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ZTE to invest further $30m in US

By Shen Jingting (China Daily)

08:35, December 14, 2012

A customer shops in a ZTE franchise store in Yichang, Hubei province. ZTE, the world's fifth-largest telecom equipment vendor, has announced it will invest $30 million in the US. Liu Junfeng / for China Daily

ZTE Corp, the world's fifth-largest telecom equipment vendor by sales, announced on Wednesday that it will strengthen its presence in the United States by investing $30 million in the country.

The plan comes two months after a US congressional investigation accused ZTE, together with Huawei Technologies Co Ltd, of posing a risk to the country's national security. A US congressional committee advised US companies to avoid buying ZTE and Huawei products.

"ZTE is committed to the US market and we are looking forward to continuing our investment and making the most use of local talent to bring innovations to consumers," Cheng Lixin, chief executive officer of ZTE US, said in a statement.

The company will use the $30 million to work with various local partners to take advantage of both mainstay and innovative technologies in the telecommunications industry, the statement said. The investment will also create jobs in the country, helping develop the local economy, ZTE said.

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