EU to launch probe of China telecoms

The EU announced Wednesday that it plans to investigate the export practices of Chinese telecommunication equipment makers Huawei Technologies and ZTE (000063.SHE), The Wall Street Journal reported. The probe will look into whether China is dumping or illegally subsidizing mobile telecom products, an EU statement said. Huawei responded by denying allegations of dumping and subsidies. “If meaningful negotiations can be carried out between the Chinese and EU authorities, Huawei is confident that these unfounded accusations can be addressed and amicable solutions can be found,” the company said. The EU imports roughly US$1.29 billion of mobile telecom products from China each year, an EU official said.