SHENZHEN, April 20 (Xinhua) -- Chinese telecom equipment maker ZTE Corp. said in a statement on Friday that it will not accept a ban by the on the company, calling the decision "extremely unfair."

The announcement came after the U.S. Department of Commerce imposed a denial of export privileges against ZTE for alleged violations of the Export Administration Regulations earlier this week.

The Shenzhen-based company said it is determined to take all means permitted by law to safeguard its legitimate rights and interests, while it will continue efforts to solve the issue through dialogue.

China's Ministry of Commerce (MOC) said Thursday that the U.S. action against ZTE will damage itself. "The action targets China, however, it will ultimately undermine the United States itself," said MOC spokesperson Gao Feng.