(Yicai Global) May 21 -- The 90-day extension in the U.S. "bears little meaning" and Huawei is fully prepared, said Huawei's CEO Ren Zhengfei in a group interview with Chinese media on Tuesday. 

Ren also expressed confidence in Huawei's 5G competence, saying Huawei's 5G will not be affected by the restrictions. 

He predicted that no other parties would be able to catch up with the company in 5G technology in the next 2-3 years.

American politicians are underestimating Huawei's capabilities, added Ren.