Huawei plans to spend more than $ 300 million a year on university research funding, a top Huawei executive said on Tuesday, despite a US trade embargo on the Chinese company that has hurt its relations with companies and academia.

William Xu, head of the Strategic Research Institute of the telecommunications equipment manufacturer, made the remarks at an event in the southwestern city of Chengdu.

Huawei has been facing a trade embargo imposed by the administration of US President Donald Trump since May, and under this ban, Huawei is prohibited from obtaining any technology from US companies without consent. Also because of the ban, the famous Massachusetts Institute of Technology “MIT” severed ties with Huawei earlier this year, and the British University of Oxford stopped accepting funding from Huawei last year.

Xu said that only a few educational institutions have suspended relations with the company, so Huawei will allocate funding to institutions that still welcome the company. He added: “This amount “$ 300 million annually” will increase, and will not decrease from now on.”

Xu also said that the company has shipped more than 200,000 5G networks to markets worldwide, which is higher than the 150,000 stations unveiled last July.

Huawei has been a key topic in the US-China trade war for a year. Washington imposed a trade embargo on the company in May over national security risks. However, Huawei posted a 23% jump in revenue in the first half, supported by strong smartphone sales in its domestic market.

Source : Reuters