EU risks financial hit if Chinese suppliers forced out: Trade group

Brussels: A group representing Chinese companies warned Wednesday the EU would suffer hundreds of billions of euros in losses if Chinese telecoms suppliers are banned in the bloc over cybersecurity concerns.

The European Union in January proposed banning foreign telecoms equipment-makers over network access concerns that could pose risks to national security.

Although the EU never named any companies, officials said the targets included Chinese suppliers Huawei and ZTE.