Huawei is determined to enhance its innovative capacity and deepen cooperation with its European partners for a better-connected world, its top executive said in Brussels on Wednesday. Speaking at Huawei's Chinese New Year reception, Chen Lifang, Senior Vice President of Huawei, said that the company had invested between 10 percent and 15 percent of its annual revenue in research and development every year with over 36.5 billion dollars to date. She said that through the Huawei Innovation Research Program, Huawei has established numerous partnerships with universities and research institutes across Europe. "Over the next 20 years, we will use new technologies to build a Better Connected World. This will present us with huge opportunities. We will continue to invest heavily in areas such as 4K and 2K HD video, 4G mobile technologies, and cloud services," said Chen. She said Huawei held its first European Academia Salon in London just a few days ago where participants from the information computer technology sector shared their perspectives and ideas and learned from each other. Chen believed that it was a vital platform for more open partnerships across the industry. "We will work with our global partners, especially those in Europe, to grow the industry and jointly reap the benefits of the digital economy. Digital transformation will create a huge market, and it should not be the exclusive domain of just a few companies," said Chen.