Huawei founder remains upbeat despite US restrictions

THE founder of Chinese tech giant Huawei has said he expects no relief from US export curbs due to the political climate in Washington, but expressed confidence the company will thrive because it is developing its own technology.

Ren Zhengfei also said he does not want relief from the US sanctions if it requires China to make concessions in a tariff war, even if that means his daughter, who is under house arrest in Canada on US criminal charges, faces a longer legal struggle.

Mr Ren said Huawei expects US curbs on most technology sales to go ahead despite the announcement of a second 90-day delay, and said no one in Washington would risk standing up for the company. The biggest impact will be on American vendors that sell chips and other components to Huawei, the biggest maker of network gear for phone companies, Mr Ren said. Washington has placed Huawei on an “entity list” of foreign companies which require official permission to buy American technology.

In an interview at Huawei’s headquarters campus in Shenzen, 74-year-old Mr Ren said: “Whether the ‘entity list’ is extended or not, that will not have a substantial impact on Huawei’s business.

“We can do well without relying on American companies.”

Huawei, China’s first global tech brand, is at the centre of a battle over trade and technology that threatens to tip the global economy into recession. American officials accuse the company, which is the world’s second-biggest smartphone brand, of stealing technology and facilitating Chinese spying. Huawei denies these accusations.

The firm’s chief financial officer Meng Wanzhou, who is also Mr Ren’s daughter, is fighting extradition from Canada to face US charges related to possible violation of trade curbs on Iran.

Beijing has arrested two Canadians in a possible attempt to force her release.