ZTE Faces Potential $1 Billion Payment to U.S. Amid Bribery Allegations
ZTE Corporation, a major Chinese telecommunications equipment manufacturer, is reportedly facing the possibility of paying over $1 billion to the U.S. government to settle longstanding allegations of foreign bribery. This development comes as part of ongoing investigations into ZTE's alleged practices of securing telecom contracts through bribes, a matter that has been under scrutiny by global authorities for several years. Previously, ZTE had paid approximately $2 billion in penalties to U.S. authorities for export violations during President Trump's first term. The company's shares have reacted negatively to the news, with its Hong Kong-listed stock dropping 9.8% to HK$28.54, marking its lowest point since November 24. Similarly, its Shenzhen-listed shares fell by 7.6% to 38.76 yuan. Despite these challenges, ZTE has stated that it remains in communication with the U.S. Department of Justice and that its production and operations continue as normal. 
