Huawei denies receiving special assistance from Chinese government

by Jerry

In response to two articles published by the Wall Street Journal, Huawei issued a press release reaffirming its total independence from the Chinese government. The firm denies receiving any special aid, while the US newspaper claims that Huawei received more than $75 billion in aid.

In less than 24 hours, the Wall Street Journal published two articles about Huawei. Two articles that are obviously controversial, because they claim that the Chinese firm, still combative despite an embargo that lasts for more than six months, would have received substantial assistance from the Chinese government. Of course, Huawei quickly denied all the information published by the American daily.

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So the story starts yesterday, Christmas Day. The Wall Street Journal publishes two articles. The first reveals financial assistance offered to the manufacturer by the Chinese government. The sum mentioned is staggering: $75 billion. The New York daily explains that this amount would have been used by Huawei to finance its international deployment, but also to its competitiveness during the crisis that the company has been experiencing since April 2020. Note that many large companies are supported by certain states, simply because competitiveness helps to maintain (or create) jobs.

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In a second article, the newspaper details its calculation to arrive at the famous $75 billion. $46 billion would come from various loans to the firm and grants. $26 billion would have been offered through tax cuts. Between $1 billion and $2 billion would have been provided in the form of land grants.

Categorical denial

Following these two publications, Huawei took the floor by posting a video on social networks (which you can find below). In the video, which lasts about 5 minutes, the spokesman of the Chinese firm denies all the information disseminated by the daily. He says Huawei has not received special treatment and that the company does not need help to invest tens of billions of dollars each year in research and development. He believes that the Wall Street Journal's information is incorrect and that the conclusions that flow from it are wrong.

#Huawei does not accept smear campaigns based on false information. Looking at fabrications published about Huawei's financial situation and relationship with the government, we bring you the #facts so you can make an informed decision about the truth. #HuaweiNews

— Huawei (@Huawei) December 26, 2019

Source: Wall Street Journal

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