Huawei to spend $2 bn on cybersecurity over next 5 years

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Unlike other big Chinese technology firms, it derives half of its revenue from overseas.

Huawei Chairman, Ken Hu, has urged the Australian and USA government to provide proof of national security risks - causing Huawei's removal from the UK's core telco infrastructure, and ban from the local 5G network.

China has taken a "rob, replicate and replace approach to economic development" in stealing intellectual property from companies in the USA and other countries, Demers said. The companies settled out of court, but Huawei has been accused of stealing other firms' intellectual property and violating worldwide economic sanctions.

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"China strongly urges the Canadian side to immediately release the detained Huawei executive. or face grave consequences that the Canadian side should be held accountable for", the assistant minister, Le Yucheng, says in a statement. Huawei products are already blocked in the USA and its plans to build 5G networks in Australia and New Zealand have been shelved.

"If you have proof or evidence, it should be made known", said Hu.

The journalists present at the conference visited R&D labs showcasing materials and thermal management technologies, as well as an independent cyber security lab. Huawei also revealed plans to launch security center and improve software engineering with an investment of 2 billion dollar.

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The United States is pressuring partners and allies to ban Huawei products, and the European Union is also said to be investigating whether the Chinese equipment indeed poses a security threat. The announcement did not specifically name Huawei or ZTE, but Huawei criticized the decision as political and based in "ideological prejudices", rather than actual security concerns.

The other two members of the partnership, the United Kingdom and Canada, are studying the security of Huawei equipment for upcoming 5G networks that will be run by carriers. He added that Japan and France had not formally banned its telecom equipment. That took place while China and the USA are trying to resolve a trade dispute. She is now out on bail with extradition proceedings pending. The U.S. has warned Beijing could employ Huawei's networks for espionage, something the provider of telecommunications and networking equipment has always denied. Huawei is also participating in 5G tenders of Japanese carriers. The Trudeau government has been under some pressure to bar the company from developing its 5G network in Canada, due to security risks cited by some experts.

Earlier this week, Germany said it hadn't found any evidence that Huawei's equipment sold on the local market or elsewhere is involved in cyberespionage.

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All these countries and companies are expressing concern that China's government could exploit Huawei's technology to spy on them, stealing corporate or government or military secrets.