(Yicai Global) March 2 -- China's Huawei Technologies has no intentions to shrink its offshore business despite the telecoms giant's hurdles abroad, according to a rotating chairman.

Some people are asking whether Huawei will gradually retreat from overseas markets, Guo Ping said in a live streaming session during MWC Barcelona 2022 yesterday. "Our answer is 'no'. For customers who choose us, Huawei will make every effort to help them achieve success. Huawei will implement its global strategy unswervingly in terms of industry standards, talents, and supply chain," he added.

In fact, the Shenzhen-based tech giant is increasing its investment abroad to improve its product performance. Huawei ranked second on the 2021 EU Industrial R&D Investment Scoreboard, Guo revealed.

But sales are sliding. Late last year, the telecommunications equipment giant predicted its 2021 revenue to drop by 29 percent to about CNY634 billion (USD100.5 billion) from 2020 due to the impact of a nearly three-year ban that effectively restricts its access to US-made technologies. Huawei is expected to release its annual report late this month or in early April.

Facing challenges, Huawei will adhere to globalization and greatly increase its strategic investment in basic technologies to improve its mid and long-term competitiveness to support the long-term development of the information, communications, and technology industry, said Guo.

The chairman made a movie analogy. In the movie Don’t Look Up, the world faces a disaster, but some people would rather turn a blind eye to it, said Guo. "It is not the future of Huawei or the whole industry. But if we want to see the future, we should look up and not be blinded by politics, factions, and propaganda. We have to look up and look ahead to find a way forward."

Huawei is hoping to build a highly credible and reliable supply chain by solving technical and process problems, Guo concluded.

Editors: Tang Shihua, Emmi Laine