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Our Bureau

Dec. 5

Shares of ZTE Corp., China's biggest publicly listed telephone-equipment maker, surged after the company said it may more than double the number of workers in India next year.

The company's stock rose 6 per cent to 41.84 yuan on the Shenzhen Stock Exchange as of 11:00 a.m. local time, headed for a record close.

ZTE's Hong Kong-listed shares gained 3.9 per cent to HK$38 as of 11:04 a.m. local time, and also looked set to end the day at their highest-ever level. ZTE may raise the number of employees in India to more than 2,000 in the next year from the 1,000 it has at present as the company wins contracts from local carriers.

Shenzhen, southern China-based ZTE is offering lower prices than rivals such as Ericsson AB to India's phone operators to compete for contracts, Mr Cao Qiang, Vice-President of the company's mobile unit, said in an interview.

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India boost to ZTE scrip

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