Market Chatter: China Warns Retaliation vs EU Over Potential Huawei Ban
China warned it would hit back at the European Union if the proposal to ban Huawei's equipment is implemented, Bloomberg News reported Thursday, citing a statement from China's mission to the E.U.Commission Executive Vice President Henna Virkkunen proposed a ban to phase out equipment from Huawei and ZTE (HKG:0763, SHE:0000630) from the bloc over cybersecurity risks, according to the report.China's mission asked to remove language that called equipment from the mainland a cybersecurity concern and that labelled Chinese companies "high risk" suppliers, the media outlet reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)