huawei

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

Japanese company Toshiba Machinery: US increase of Chinese commodity tariffs will directly hit the surrounding supply chain

The prospect of trade friction between China and the United States is…

What are the best competitor analysis steps to lean the brand competitors?

Definitely, If you monitor your brand competitor with a strategic approach such…

“Fei Shen” Buffett also invested in the flagship Ba County Pangzi scam loss of more than 2.9 billion

Senior investor Warren Buffett is known as a “share god”. His own…

Trump said that he did not want to do business with Huawei, saying that he had talked with Apple CEO about tariffs.

US President Donald Trump told reporters in New Jersey on August 18…