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ZTC Owes Employees CNY2.76m In Back Pay
February 13, 2009 |
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Comments | Category: Labor
Shenzhen ZTC Telecommunications Plc, a company listed in London that is well-known in China for producing cloned cell phones, has been exposed as one of 48 employers who owed back pay to their employees.
According to a list published by Shenzhen Municipal Labor and Social Security Bureau, the 48 companies owed more than CNY30 million in total to their employees in the fourth quarter of 2008, and of these, ZTC Telecommunications Plc owed more than CNY2.76 million to its employees.
According to a general manager in Shenzhen's mobile phone industry, ZTC Telecommunications Plc had debts totaling CNY200 million to CNY300 million and the company's top management, including its president Huang Zhaohui, disappeared en mass on November 7, 2008.
ZTC Telecommunications Plc started its business by producing cloned mobile phones. By the end of 2007, the company's annual production capacity had reached four million and it was nicknamed "the king of clone cell phones".
The company was listed in London in April 2007.
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