BEIJING: 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.
"Below market price land sales, massive targeted R&D grants, and export financing on terms that are more favourable than what Huawei could get from the private sector collectively appear to provide significant subsidies that other countries could challenge at the WTO if they are harming domestic companies," said Claire Reade, a former assistant US trade representative.
More than half was given by China as"unconditional government grants" because of the firm's"contributions to the development of new high-technology" in China, according to Huawei's 2009 annual report. Outside China, the country's state policy banks have provided financing to boost Huawei's sales to the developing world - at times leaving the state on the hook when risky loans go bad.
"We may give you loans to buy Chinese equipment or materials, but there must be a Chinese element," Zheng told AFP of his bank's loans to help Chinese firms expand abroad.Brazilian telecom firm Telemar Norte Leste obtained a US$500 million CDB loan in 2009 with a two-year grace period on principal payments at a well-below-market interest rate to buy Huawei gear.
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