"Even under such strong US pressure as we are experiencing, we are still able to get good business results … Our revenue for the first three quarters of this year, which we recently announced, amounted to $86.7 billion, this is a 24% increase over the same period last year," Zhou said, speaking at the Business and Investment Summit of the countries of the Association of Southeast Asian Nations (ASEAN) in Bangkok Thailand.
In light of this, Zhou expressed confidence that this year’s business results will exceed those of last year’s despite the ongoing trade war and, as he also underlined, technological war.
In May, the US government blacklisted Huawei and restricted the company's access to the purchase of US hardware, having accused the tech giant of spying on behalf of the Chinese government through its devices. Last year, Australia, Japan, New Zealand and the United States banned the company from participating in government contracts due to "security concerns". Both Huawei and Beijing have refuted the accusations.
The Chinese techgiant has been pioneering 5G technology and is said to be leagues ahead of US rivals. 5G is the next step in internet connectivity speed that outstrips anything currently in use by several orders of magnitude and, as experts believe, has the potential to transform various aspects of modern life.
