ZTE has replaced one of its "most powerful" executives, in a move that may signal its ready to comply with US government demands, Bloomberg reports. Tian Dongfang, a ZTE non-executive director who’s also chief of a think-tank under the China Aerospace Science and Technology Corp, has assumed the role of party secretary, people familiar with matter said.
This may be part of China's efforts to convince the US to lift a seven-year ban on ZTE’s purchases of American technology, imposed in April for breaching terms of a settlement over sanction-breaking sales to Iran. President Donald Trump said last week the US would allow ZTE to resume business, provided it pay a USD 1.3 billion fine and change its management and board. It’s unclear however if Tian’s appointment is intended to appease Washington.
