Shares in Chinese ##zhou and ZTE increased 39 % in Hong Kong as the company resumed trading at the end of a two - month suspension after authorities banned it from buying crucial US parts . On 7 June the US finally reached a deal with the company that lifted the ban in return for a $ 1bn fine , the removal of its management board and the enlisting of a US - approved compliance fee . Shenzhen - based ZTE is one of China 's biggest mobile handset makers and relies on US components for its phones .
Shares in Chinese technology company ZTE plunged 39% in Hong Kong as the company resumed trading following the end of a two-month suspension after America banned it from buying crucial US parts. On 7 June the US finally reached a deal with the company that removed the ban in return for a $1bn fine, the removal of its management board and the enlisting of a US-approved compliance team. Shenzhen-based ZTE is one of China's biggest mobile handset makers and relies on US components for its phones.