(Yicai Global) July 12 -- China's Huawei Technologies intends to invest USD2 billion in five years to enhance its cybersecurity prowess. 

Huawei will work harder to cooperate with governments and customers to protect their privacy, the Shenzhen-based company said in its sustainability report released today. The firm already cooperates with the governments of the UK, Canada, Germany, and France on cybersecurity.

Huawei's devices do not have "backdoors" that share data with third parties and the products have a good track record regarding security because the firm has no legal obligation to collect data for anyone, it said. In May, the US banned Huawei from supplying equipment to the North American nation's fifth-generation wireless network, citing a potential national security risk.

Editor: Emmi Laine