What happened: ZTE, China’s telecom giant announced that the company has resumed operations of major businesses 42 days after the US ban on equipment sale to the company was lifted. Li Zixue, current CEO of ZTE, said during an interim stakeholders’ meeting yesterday that the company’s R&D’s performance has caught up to the original goal set earlier this year. 5G and other plans are also moving back to the normal track.
Why it’s important: While ZTE is celebrating the lift of the ban, the country is concerned that this cannot change the situation in which China still hugely relies on imported core technology and international cooperation with market leaders. The telecom market expects ZTE to accelerate its 5G projects to quickly regain power in the global communication market with Chinese government’s endorsement.