June's AI-picked stock updates now live. See what's new in Tech Titans, up 28.5% year to date.See Full Update

China urges Sweden to reverse its Huawei, ZTE ban to avoid harming its companies

Published 10/21/2020, 03:50 AM
Updated 10/21/2020, 04:55 AM
© Reuters. FILE PHOTO: Man wearing a face mask following the coronavirus disease (COVID-19) outbreak walks past a booth of Huawei at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing
0763
-
000063
-

BEIJING (Reuters) - Sweden should reverse its ban on Chinese telecommunications companies Huawei [HWT.UL] and ZTE (HK:0763) (SZ:000063) from a planned 5G spectrum auction to avoid a "negative impact" on its own companies, said China's foreign ministry.

"China expresses strong dissatisfaction with Sweden," said foreign ministry spokesman Zhao Lijian, speaking at a regular news briefing in Beijing on Wednesday.

The Swedish Post and Telecom Authority (PTS) on Tuesday banned the use of products from Huawei and ZTE by companies taking part in the auction scheduled for next month.

"Sweden should uphold an objective and fair attitude, and correct its wrong decision, to avoid bringing a negative impact to China-Sweden economic and trade cooperation and the operations of Swedish enterprises in China," said Zhao.

PTS said it had followed advice from the country's armed forces and security service, which described China as "one of the biggest threats against Sweden".

European governments have been tightening controls on Chinese companies building 5G networks following diplomatic pressure from Washington, which alleges Huawei equipment could be used by Beijing for spying.

© Reuters. FILE PHOTO: Man wearing a face mask following the coronavirus disease (COVID-19) outbreak walks past a booth of Huawei at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing

Huawei has repeatedly denied being a national security risk.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.