In the past few hours, a rumor has circulated from the Wall Street Journal that Huawei has obtained contributions, concessions and various grants to establish itself in the telecommunications market in the last twenty years.
If the Shenzhen company (which once built low-cost telephone exchanges) now a communications giant, therefore also thanks to the Chinese government. The WSJ has sifted through public documents, including company statements and land registry documents, claiming that $ 46 billion came from state financiers, including over $ 30 billion in credit lines made available by the China Development Bank (CDB) and from the Export-Import Bank of China.
All this obviously with the government's placet that has done everything to allow customers to buy Huawei technologies not only at lower prices, but also at better financing conditions than the competitors' offers. Huawei responded to the article in the U.S. newspaper with a series of tweets and a long statement. Once again, the WSJ published lies on Huawei based on false information, the statement 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. pic.twitter.com/MpFVDIUecO
– Huawei (@Huawei) December 26, 2019
This time, the accusations about Huawei's financial situation ignored our 30 years of dedicated research and development investments, which have driven innovation and the IT industry as a whole. Huawei still reports that it reserves the right to take legal action against the WSJ for a series of irresponsible and bad faith articles.
According to the Chinese company at the basis of its success there are expenses in research and development, underlining that in the last 30 years it has spent between 10% and 15% of annual revenues in the development of new products and technologies, denying having received special treatments from the Chinese government.
The Wall Street Journal explains that many governments help large companies in their respective countries. In the USA, for example, there has been no shortage of aid to Boeing. If the amount of financial aid to Huawei is confirmed, these are huge incentives, which highlight a "favoritism" aimed at winning contracts and allowing the company to place its products all over the world, at all costs.
Huawei is the most important provider of equipment and services for 4G cellular networks and in the front row for 5G, with contracts already signed all over the world.