China urges U.S. to treat Chinese companies lawfully, fairly

China's Ministry of Commerce (MOC) on Tuesday urged the United States to create a fair, just, and stable legal and policy environment for Chinese companies.

This came hours after the U.S. Department of Commerce announced activation of denial of export privileges against leading Chinese telecom equipment maker ZTE Corp for alleged violations of the Export Administration Regulations.

"The MOC will closely track the case and is ready to take necessary measures to protect the legitimate rights and interests of Chinese companies, " said a MOC spokesperson.

ZTE has extensive trade and investment cooperation with hundreds of U.S. companies, creating tens of thousands of jobs in the United States, the spokesperson said.

"China has consistently asked Chinese companies to comply with the laws and policies of host countries and manage their businesses in line with laws and regulations," said the spokesperson.

An official statement from ZTE said Tuesday the company is aware of activation of the denial order, and "is communicating with relevant parties proactively in order to respond accordingly."

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U.S. suspends export control deal with China's ZTE

U.S. Department of Commerce on Monday suspended an export control settlement deal with Chinese telecom equipment maker ZTE Corporation.

"U.S. Department of Commerce's Bureau of Industry and Security (BIS) has imposed a denial of export privileges against Zhongxing Telecommunications Equipment Corporation (ZTE Corporation), of Shenzhen, China," it said in a statement.

ZTE responds to U.S. purchase ban

Chinese telecom equipment maker ZTE Corp. said in a statement on Tuesday morning that it is aware of the denial order activated by the United States Department of Commerce.

"At present, the company is assessing the full range of potential implications that this event has on the company and is communicating with relevant parties proactively in order to respond accordingly," ZTE said.

This came hours after the U.S. Department of Commerce announced activation of denial of export privileges against ZTE.

Based in Shenzhen, ZTE is a leading global provider of telecom equipment, networking solutions and one of the world's fastest growing smartphone manufacturers.