Huawei denies receiving $ 75 billion from the Chinese authorities

Huawei Representatives have denied the information of the newspaper the Wall Street Journal of financial assistance from the government of China. According to them, the company did not use special conditions of state support, which allegedly helped her to maintain more competitive prices in the market and become one of the largest manufacturers of telecommunications equipment in the world.

the Material, which was dubbed the amount of subsidies Huawei, the WSJ published yesterday. It was argued that over the past decade, the owner of the brand Honor has received from the Chinese authorities assistance in the amount of almost $75 billion – in the form of cheap loans from state banks, tax incentives, grants and discounts on the acquisition of landed property.

Thanks to state support mentioned in the investigation, Huawei was able to establish a lower market price and become a leader in the telecommunications industry, which produces smartphones and is building a 5G network around the world. Moreover, 2019 is issued for the company heavy: Huawei was added to the black list of USA and lost the right to cooperate with American partners, and its CFO Meng Wanzhou (daughter of Huawei founder Ren Jenvey) spent a year under house arrest in Canada. Despite this, the firm has maintained a dominant position in the market.

Huawei has responded to the article via Twitter, writing that the WSJ “has again published false information”. “This time, absurd accusations concerning the financing of Huawei, ignoring the fact that for over 30 years, we purposefully invest in research and development to stimulate innovation and technological field as a whole,” the company said.

Once again, the @WSJ has published untruths about #Huawei based on false information. This time, wild accusations about Huaweis finances ignore our 30 years of dedicated investments in R&D that have driven innovation and the tech industry as a whole. Read on for the #facts.

– Huawei (@Huawei) December 26, 2019

Representatives of Huawei added that are benefits on the same terms as any other private company in China, and “never received extra or special approach” by the authorities.

Text: To.Hi-tech