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Felicia Tan
in
Finance
December 27 15:10

WSJ: Huawei received US$75 billion in tax benefits from China

The company itself described such support as only "small" grants, which are allocated to finance new researches. Moreover, such subsidies are available to many market participants. At the same time, no comments were received on the land discounts.  
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The Wall Street Journal reports that Chinese telecommunications company Huawei received about US$75 billion from the Chinese authorities. China has been providing support since 1998. The company received US$16 billion in donations from state banks and given subsidies from the state in the form of tax benefits, cheap loans and others. Another US$30 billion in loans were provided by China Development Bank and Export-Import Bank of China. Due to the support from the Chinese authorities, Huawei was able to develop to the world level.
Huawei received active assistance from 2008 to 2018, which helped it save about US$25 billion by obtaining tax benefits for technology companies. Since then, she has received US$1.6 billion in grants and saved another
US$2 billion on land purchases.
The company itself described such support as only "small" grants, which are allocated to finance new researches. Moreover, such subsidies are available to many market participants. At the same time, no comments were received on the land discounts.