ZTE Launches Internal VC Fund

SHENZHEN, China -- ZTE Corporation (ZTE) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly listed global provider of telecommunications equipment and network solutions, today announced the company’s launch of RMB 100 million venture capital “Innovative Fund” created with the intention of driving innovations from within the company.

When selecting venture capital investments for the fund, ZTE will seek technologies solutions, business models and management processes proposed by its 80,000-strong employee base, including 30,000 research and development personnel.

According to Mr. Hou Weigui, ZTE chairman and chief architect of the venture capital fund, “The creation of this endowment is intended to foster innovative ideas and projects. Innovation is essential and fundamental to ZTE. The fund is one way ZTE is taking action to create ground-breaking new telecommunications solutions.”

ZTE Corp. (Shenzhen: 000063; Hong Kong: 0763)