 A state-backed Chinese trade body said compliance is now a core risk for Chinese firms and that the government must speed up the implementation of guidelines on corporate oversight following a U.S. ban on sales to ZTE Corp. U.S. authorities this week forbade American companies from sales to ZTE for seven years, saying the Chinese telecom company had broken a settlement agreement with repeated false statements - a move that threatens to cut off ZTE's supply chain. The ZTE case represents a "milestone" and government leaders should urge the company to boost compliance oversight to ease "disastrous" consequences, the China Council for the Promotion of International Trade (CCPIT) said in a policy proposal seen by Reuters.
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