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Wall Street Journal estimated Huawei’s governmental support at 75 billion dollars

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Wall Street Journal estimated Huawei’s governmental support at 75 billion dollars
December 26
09:00 2019

The Wall Street Journal has estimated that the Chinese government has provided $ 75 billion to Huawei. Assistance was provided in the form of benefits, loans, subsidies, etc.

WSJ notes that this assistance turned out to be more substantial than that received by the company’s competitors from their countries. Thus, Huawei was able to keep lower product prices and enter the TOP of global telecommunications companies.

State banks have provided great support. They issued loans to the company in the amount of $ 46 billion. Thanks to tax breaks, Huawei will be able to save about $ 25 billion over 10 years. Another sum of $ 1.5 billion was received in the form of subsidies. It was possible to save US $ 2 billion due to discounts on land purchased by the company.

By the way, representatives of the high-tech giant Huawei say that government support was not so substantial. “Benefits and loans are available not only for us, but also for all market participants,” the representatives of the company commented on the situation.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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