According to the American media, in the process of rising to become the world’s largest telecommunications equipment supplier, Huawei received government policies such as tax relief, financing and cheap resources of up to 75 billion US dollars. This level of support dwarfs the support that its technology competitors receive from the government.

The United States “Wall Street Journal” reported on December 25 that the Chinese government’s tens of billions of dollars in financial aid helped Huawei rise to become the world’s number one telecommunications company. Judging from key indicators, support of this scale far exceeds the support received by the government closest to Huawei’s technology competitors.

It is reported that Huawei has rapidly emerged from a little-known telephone switch supplier to become the world’s largest telecommunications equipment manufacturer. In the process, Huawei has obtained subsidies, credit measures, tax relief and other forms of financial support, and obtained Up to $ 75 billion in government support.

Michael Wessel, a member of the United States Congress committee, said that although Huawei has commercial interests, these commercial interests have received strong national support.

It is reported that the largest part of the government’s assistance to Huawei, about 46 billion US dollars, comes from loans, credit lines and other support from national lending institutions.

From 2008 to 2018, as the state encouraged the development of the technology industry, Huawei saved up to $ 25 billion in taxes.

Among other aids, Huawei also received $ 1.6 billion in subsidies and a $ 2 billion discount on land costs.

According to the annual report, since 2008, Huawei has received official grants totaling $ 1.6 billion. In the five years to 2018, this figure was 17 times the similar subsidy provided by Nokia, the world’s second largest telecommunications equipment maker. Ericsson, the world’s third-largest telecommunications company, did not release any official funding figures during this period.


Sign Up for Our Newsletters

Get notified of important news and special executive deals.

You May Also Like

Davos International Conference 2022: Alternative Investments and Hospitality Real Estate Market

by ILP Group The Davos International Conference 2022 will be held 23…

What is the heavy penalty for Johnson & Johnson to be “Fentanyl” and “He is sprayed”?

Johnson & Johnson was accused of contributing to the addiction of opioids…

“Ngũ Phụng” artwork with 7000 sparkling crystals at the Honoring ceremony of the Top 100 International Outstanding Vietnamese Women Leaders 2022

“Ngu Phung” (The Five Phoenixes) Backdrop – an artwork of artist-businesswoman Cherry…

Founder and CEO of Dutycast Technology Vietnam: Thrilled to be named for the Top 50 Asian Pacific Women Leaders in 2022

Ms. Nguyen Le Hoa, CEO of Dutycast Technology Vietnam Company, has always…