Huawei in $2B cybersecurity spending

hong kong — Huawei Technologies on Tuesday said it would spend $2 billion over the next five years to focus on cybersecurity by adding more people and upgrading lab facilities, as it battles global concerns about risks associated with its network gear.

The typically secretive Chinese technology giant made the comments at one of its most indepth Press conferences at its Dongguan offices, after welcoming about two dozen international journalists into its new campus in the southern Chinese city.

Huawei has been in the news these past weeks for the arrest of its chief financial officer Meng Wanzhou — also the daughter of its billionaire founder Ren Zhengfei — in Canada at the request of the United States.

This has exacerbated the woes of the Chinese company, which has already been virtually locked out of the American market and has been prohibited by Australia and New Zealand from building 5G networks amid concerns its gear could facilitate Chinese spying.

“Locking out competitors from a playing field cannot make yourself better. We think any concerns or allegations on security at Huawei should be based on factual evidence,” its rotating chairman Ken Hu said. “Without factual evidence we don’t accept and we oppose those allegations.”

Huawei has been communicating with governments worldwide regarding the independence of its operation, he added. —