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Huawei denies receiving $75 billion in aid from Chinese govt

Dec 27, 2019 17:25 IST

Chinese tech giant Huawei denied a Wall Street Journal report alleging that the company received as much as $75 billion in tax breaks, financing and cheap resources from the Chinese government. Attributing its success to heavy R&D investment over the past three decades, Huawei said that its ties are no different from any other private company that operates in China. Based on publicly-available records, the report estimated that Huawei received $46 billion in loans and lines of credit and saved as much as $25 million in taxes between 2008 and 2018.

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