Continue Reading Below
In an exclusive interview with FOX Business’ Connell McShane, Huawei Vice President Andrew Williamson said the company is privately owned and has a unique structure in which all employees have a stake in the organization.
“There’s no private connection. There’s no ownership. There’s no, you know, percentage of shareholding that’s part of the Chinese state,” he said on “After the Bell” Monday.
Secretary of State Mike Pompeo has accused Huawei of sharing close ties with Beijing.
“Huawei is an instrument of the Chinese government. They’re deeply connected. It’s something that's hard for Americans to understand,” Pompeo said on “Mornings with Maria” last month.
Williamson said the biggest misconception about the Chinese telecom giant is whether its government exerts control over the country's private business.
"There is no real connection to the state in China. We are part of that, you know, thriving private business sector,” he said. “So I think that’s probably the fundamentally the biggest misunderstanding.”
The United States government has been cracking down on Huawei and accusing the company of cybersecurity threats and stealing trade secrets.
Huawei founder Ren Zhengfei now expects revenue to be $30 billion less than forecast over the next two years. He made the comments on Monday at the company’s headquarters in Shenzhen. He likened Huawei to a badly damaged plane and said America’s restriction of its business “will not stop us.”