The U.S. government said on Friday that an agreement has been reached that will allow ZTE to resume its operations on the condition that the company will pay another US$1.3 billion in fines and carry out management changes. However, the plan was opposed by the U.S. Congress. It shows that ZTE is still far from the predicament. In addition, ZTE has not confirmed the transaction.
Domestic media reported that Ma Huateng said at a forum held in Shenzhen on Saturday that “The recent ZTE event has made everyone more aware that no matter how advanced you are on mobile payments, there are no mobile phones, chips, and operating systems. You still can't compete with others."
Tencent is China's largest social media and gaming company and has a popular WeChat application. The company and Alibaba Group take turns being the listed companies with the highest market value in Asia.
Ma Huateng said: "Although the current plight of ZTE is being resolved, we cannot lose our vigilance now and we should pay more attention to basic scientific research."
Ma Huateng said that Tencent is studying how to help promote the development of China's domestic chip industry, which may include the use of its huge data needs, urge domestic chip suppliers to come up with better solutions, or use the WeChat platform to support applications based on Chinese chipsDevelopment.
"If we can support semiconductor R&D, that's better, but this may not be our strength and it may require the help of others in the supply chain."
China has been seeking to accelerate the development of its semiconductor market plan to reduce its heavy reliance on imports. In addition, China has also invited overseas investors to invest in China’s largest state-owned chip fund.