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ZTE Fell Out of Export "Red List"
(SinoCast Via Thomson Dialog NewsEdge)SHANGHAI, Feb 14, 2006 (SinoCast via COMTEX) --ZTE Corporation, China's largest listed telecommunications equipment provider, has been moved out of the export "Red List" by the General Administration of Customs for two times of failure in transporting temporarily exporting equipments back home within stipulated time.
A ZTE director recently confirmed the above report, with an explanation that the two accidents were all led by overseas telecom carriers' excessiveness of testing time.
The authorized temporarily exporting goods, which can be exported without tariff after paying a certain amount of deposit, should be re-transported back home within 6 months; while that stayed longer without permission will be imposed a fine equivalent to 5%-30% of the exporting goods' price.
The "Red List" qualification enables companies to enjoy some preferential treatment and convenience when exporting.
ZTE went into the list last August as the only telecom outfit maker being listed.
The ZTE director expressed that the company is now actively making efforts for resuming the qualification, but he said that the affair has not yet caused any negative impact on the company's export presently.
From dycj.ynet.com, Page 1, Monday, February 13, 2006
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