US
Biden signs legislation that will prevent large tech companies from acquiring equipment licenses in the US.
The result of a US supplier ban that forced the telecoms gear maker to halt operations for three months
Bars government agencies and contractors from doing business with ZTE
Allowing China’s second-largest telecommunications equipment maker to resume business
The US Commerce Department on Friday lifted a crippling ban on American firms selling parts to ZTE
While other top executives to comply with US mandate
Telecom-maker says it will replace its board and executive team within 30 days
But the ban on buying US parts will not be lifted until the company pays the fine
The deal allows China’s second-largest telecoms equipment firm to restart operations
The agreement comes as US President Donald Trump seeks trade concessions from China