During the Trump administration’s offensive against Huawei in 2019, Huawei’s chief financial officer, Meng Wanzhouand also daughter of company founder Reng Zhengfei, had been arrested in Canada and placed under house arrest.
His situation only changed in September 2021 after an agreement was reached which canceled the charges of fraud. Returning to the country, the financial director is assigned new functions by becoming one of the three leaders of Huaweialongside Hu Houkun and Xu Zhijun, according to the rotating presidency principle whereby the CEO changes every six months, under the general but less executive supervision of Reng Zhengfei.
His arrest during a stopover in Vancouver had been the starting point for growing tensions between the United States and China and the beginning of a series of sanctions against Huawei, suspected of espionage and theft of US technologies.
The Chinese giant, in the firmament of the first steps in the deployment of 5G networks and then number two in the world for telephony, suffered a strong backlash from American sanctions by losing access to a certain number of technologies and fine engraving techniques. foundries, as China does not yet have very advanced foundries as an alternative.
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