According to information from the association’s internal presentation, “Huawei… receives about 30 billion dollars of public funding from the government and its home city of Shenzhen… and has acquired at least two existing factories and is building at least three more.”
In order to get around the sanctions placed by the United States on it, the company is reportedly “building a number of secret semiconductor production facilities across China” and developing technological capabilities under the guise of other businesses. The association claims that this enables it to indirectly acquire materials and equipment made in the United States for the fabrication of chips that would not otherwise be possible.
The organization adds that US President Joe Biden’s administration is alarmed by the disclosure of information regarding covert Huawei production.
source: bloomberg.com
