(Yicai Global) March 22 -- Huawei Technologies Co., China's biggest technology company by revenue, has no intention of abandoning a policy of remaining private despite speculation that it may seek an initial public offering in the Chinese mainland as the country seeks to lure big Chinese tech firms into listing.

The Shenzhen-based company is neither in talks over a possible China listing nor does it plan to abandon the idea of remaining a closely held company, Securities Daily reported, citing insiders.

Huawei founder and President Ren Zhengfei has repeatedly said that the world's third-largest handset maker and one of its largest producers of telecoms networking equipment has no plans to go public.

But a recent call from China's financial authorities for unicorns, startups worth USD1 billion or more, and major tech firms to list on the country's so-called A-share market has fueled speculation that Huawei may reconsider. The capital market has abundant new economy targets, brokerage China Merchants Securities Ltd. said in a research report yesterday, claiming that Huawei intends to heed the call.

Regulators have also proposed allowing overseas-listed Chinese tech companies to sell so-called China Depository Receipts (CDR) on the A-share market, a proposal that is aimed at solving cross-border regulatory issues. Large Chinese tech businesses such as Alibaba Group Holding Ltd. have listed overseas. Alibaba's IPO was the world's largest to date, raising USD25 billion.