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Huawei to Invest US$632 Million in Shenzhen Digital Energy HQ

News Snapshot:

Move comes amid increasing pressure from US technology export controls. Huawei Technologies will pour some 4 billion renminbi (US$632.52 million) to build a new headquarters and R&D center for its digital power unit, according to local media reports. The move appears to be another step to diversify as US policy challenges its global ambitions. The 21st Century Herald newspaper reported Huawei Digital Power signed an agreement for the project with the Shenzhen local government, where its parent is headquartered. The signing was part of a larger event held by Shenzhen to mark the launch of new construction projects in the…

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