BRIEF-ZTE announces application for derivative investment limits for 2017

March 23 (Reuters) - ZTE Corp

* intends to apply for authorisation to invest in

value-protection derivatives against its foreign exchange risk

exposure by hedging through dynamic coverage rate for amount not

exceeding $3 billion for 2017

* "such limits may be applied on a revolving basis during

effective period of authorisation."

* value-protection derivative investments will be conducted

to reduce adverse impact arising from exchange rate fluctuations

on company in 2017

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