The European Union trade chief is willing to drop an investigation into subsidies to Chinese mobile telecom network equipment makers provided China limits export credits to certain companies, Reuters reported, citing unnamed souces. Imports of such equipment into the EU are worth an annual EUR1 billion (US$1.3 billion) and bring Chinese companies into competition with European firms including Ericsson (ERIC-B.STO), the world’s biggest manufacturer of mobile telecom equipment. Beijing is said to be considering a deal in which China promises to limit export credits to Huawei (002502.SHE) and ZTE (000063.SZE) in exchange for Brussels dropping its investigation into what it says are illegal subsidies.