The US Department of Commerce lifted the ban on ZTE trading with American manufacturers last week. The resolution was reached after ZTE managed to pay over $1.4 billion in fines and replace all its board of directors and key employees.
The decision was good news for the stock market in Hong Kong and Shenzhen, where the company’s shares jumped by 15% and with the daily 10% limit, respectively. ZTE stated on Weibo that it plans to “set out with full confidence,” even if financial estimates for the first half of 2018 are suggesting a loss of CNY9 billion ($1.3 billion).
ZTE also…