Huawei Signs 5-Year Purchase Agreement for £3B with UK Government

Huawei reportedly signed a £3 billion ($4.18 billion) five-year purchase agreement with the British government. Last Friday, Huawei Chairman Sun Yafang met British PM Theresa May in Beijing. The two sides discussed investment in Britain. The latest deal is expected to help British companies export their products to the Chinese market.

“Huawei attaches great importance to long-term cooperation. Britain is the first international market we have entered, and we opened our first office there in 2001. We have been working with major clients in the UK for more than 12 years and have been working to build a more interconnected UK. In the next few years, we look forward to continuing to work with our clients and partners to help the UK stand at the forefront of the digital age,” said Sun Yafang, chairman of Huawei.

The latest agreement marks a significant increase of Huawei’s investment in the UK. From 2012 to 2017, Huawei’s investment in UK was about £1.3 billion ($1.81 billion). In fact, Huawei has invested or purchased £2 billion ($2.79 billion) in Britain over the past five years. At present, Huawei has 15 offices in the UK, which provide more than 1,500 jobs.

“With the support of the government and the promotion and innovation of British enterprises, trade between Britain and China has reached a record level. The visit is an opportunity to further demonstrate Britain’s advanced strength and to promote employment and prosperity in all parts of the UK,” May said.

Huawei has established an extensive cooperation with many British companies. Huawei has served BT and Vodafone for more than 12 years. And Huawei also established two joint innovation centers in UK, the Innovation Center in cooperation with British Telecom in Ipswich and the Innovation Center in cooperation with Vodafone in Newbury.

This article originally appeared in Sina Tech and was translated by Pandaily.