Huawei, the Chinese networking equipment and smartphone manufacturer, has inked a £3 billion procurement commitment with the UK in a bid to expand its presence in the country.
Last week, Huawei chairwoman Sun Yafang met with British prime minister Theresa May to sign a pledge to plough billions into the British economy.
In 2012, the tech giant made a similar move when it promised to invest and procure £1.3 billion between 2013 and 2017. Huawei said it had "exceeded" the target, reaching £2 billion.
With this latest commitment, the company said it wants to support British companies in exporting to China and increase its foothold in the UK.
Over the past few years, the company has fostered "deep ties" with the UK government and major telecom firms, including BT and Vodafone.
Huawei has placed a particular emphasis on research and innovation across areas such as 5G. The company explained that it's formed partnerships with a range of British academic institutions to do this.
More than 1,500 people currently work for the company in the UK, and it has 15 British offices. Its headquarters are based in Green Park, Reading.
Theresa May praised the trade agreements between the UK and China. "Thanks to the drive and innovation of UK business, backed by this Government, trade between the UK and China is already at record levels," she said.
May continued: "This visit is an opportunity to further showcase the best of British and boost jobs and prosperity throughout the UK."
International trade secretary Dr Liam Fox said Huawei's investment plans is "another significant vote of confidence in our world-leading tech industry".
He said: "With 90 per cent of global growth forecast to come from outside the EU, my international economic department is working to ensure Britain continues to benefit from the vast opportunities available as we leave the EU."
Huawei chairwoman Sun Yafang said the company "values long-term partnership". She continued: "The UK was one of the first international markets we entered, when we opened our first office there in 2001.
"We have now been working with our major customers in the UK for more than twelve years, helping to build a better connected UK.
"Over the coming years we look forward to continuing to collaborate with our customers and partners to help keep the UK at the very forefront of the digital age."
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