Huawei seeks chip money in China as fights off US pressure


Source: euronews.com euronews.com

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By Selena Li HONG KONG – Chinese telecoms equipment giant Huawei Technologies Co Ltd has obtained a licence in China that allows it to seek external capital, as it works to shore up its supply of silicon chips in the face of U.S. pressure. The United States, which alleges that Huawei’s equipment could be used by Beijing for spying, has imposed sanctions on the company that have cut off its supplies of many overseas chips and effectively barred it from building its own. Huawei has repeatedly denied these allegations. It did not immediately respond to a Reuters request for comment...