Your Web News in One Place

Help Webnuz

Referal links:

Sign up for GreenGeeks web hosting
May 30, 2019 03:21 pm

Huawei a Key Beneficiary of China Subsidies That US Wants Ended

From a report: A replica of the Palace of Versailles, medieval turrets, and spires rise across Huawei's new campus in southern China, a monument to the telecom giant's growing fortune -- and the benefits of state aid. The fairytale-like facilities rest on land that was sold by the local government at cut-rate prices to woo and bolster a strategic, high-tech company like Huawei. It is the kind of government largesse that has fanned US frustrations at China's industrial policies -- subsidies are a sticking point in protracted trade talks between the world's top two economies. Huawei has become a major flashpoint in the trade war, with President Donald Trump taking steps to block the company's dealings with US companies, threatening its global ambitions. With the dispute shining a spotlight on China's technological shortcomings, the subsidies are a window into the kind of measures Beijing may step up as trade negotiations founder. Huawei's annual reports and public records show that it has received hundreds of millions of dollars in grants, heavily subsidised land to build facilities and apartments for loyal employees, bonuses to top engineers, and massive state loans to international customers to fund purchases of Huawei products. [...] Over the past 10 years, Huawei has received 11 billion yuan ($1.6 billion) in grants, according to its annual reports.

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/t9JYJw1en0s/huawei-a-key-beneficiary-of-china-subsidies-that-us-wants-ended

Share this article:    Share on Facebook
View Full Article

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot