A group of newly appointed senior ZTE managers – led by chief executive Xu Ziyang, who was named last week – held talks with officials of the department’s Bureau of Industry and Security in Washington on Monday, said two of the sources, who asked not to be named because the discussions were private.
The parties discussed technical details of a required escrow account, among other conditions US Commerce Secretary Wilbur Ross put forward in a deal that will pull the company from the brink of collapse, the sources said.
Rebecca Glover, the Commerce Department’s director of public affairs, denied that meetings between BIS and ZTE occurred this week.