Huawei opens London finance centre

Chinese infrastructure vendor Huawei has opened a “Global Finance Centre of Excellence” in London. The firm will use the centre to manage its global finance risks and efficiency.

Huawei pledged its $2bn investment to the UK in September last year, adding that it would invest £650m in ten global centres of technical and financial excellence. It will also double its procurement over the next five years, by committing to buy £650m on products and services in the country. In October last year, the vendor confirmed plans to open a research and development centre in the UK.

Commenting on the financial centre, Cathy Meng, Huawei CFO said: “This new centre will be responsible for managing risks of our critical finance functions including account treatment, liquidity management, foreign exchange risk management, credit management, and global financial compliance. It will become the overall financial risk assessment and control centre for Huawei, and will help Huawei carry out consistent and low-risk financial operation globally, allowing us to continuously providing our customers with high-quality services.”

She added that London not only has the skills and expertise that Huawei requires to realise operational excellence, but also has language and time zone advantages that make it an ideal location for Huawei’s Global Finance Centre.

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