Given the impetus and the focus that China has laid on ZTE in the ongoing U.S.-China trade negotiations, is probably indicative of the role played by the Chinese firm in its strategic China 2025 policy. China will also need to come of age in the semiconductor industry if it wants to be at par with the U.S. in the race towards artificial intelligence.

On Wednesday, Bloomberg reported citing unnamed sources stating China’s ZTE Corp has estimated that it lost $3.1 billion as a result of the U.S. ban.

ZTE is hopeful that Beijing and Washington will be able to reach a settlement that will effectively undo the ban which will allow it to “swing idled factories into action within hours”.