Huawei opens global finance center of excellence in London

Huawei has opened its global finance center of excellence in the United Kingdom. The new center is located in the city of London.

It will manage Huawei's global finance risks and ensure that the company's financial operations continue to operate at lower risk and the highest international standards with high efficiency.

"As part of the company's larger commitment to the country, in which its investment and procurement will be GBP £1.3 bn by 2017, the newly established global finance center of excellence is part of Huawei's overall global finance department and will focus on risk assessment across five key areas: market risk, liquidity risk, operational risk, country risk, and counterparty risk. The center includes a credit management function that will assess credit risk associated with doing business in the Europe, Middle East, and Africa (EMEA) regions. It will also include a team responsible for managing the company's relationships with international banks and finance partners located in London," the company mentioned in its statement.

"This new center 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 center for Huawei, and will help Huawei carry out consistent and low-risk financial operation globally, allowing us to continuously provide our customers with high-quality services," said Cathy Meng, Huawei Chief Financial Officer and member of the Executive Committee of Huawei's Board of Directors.

"We are proud that Huawei is choosing to invest in the UK, benefitting not only from our innovative technology sector but also our world-leading financial services. This re-iterates Britain's position as a center for global finance, ideally placed for a global firm like Huawei to further its operations," said Sajid Javid ,MP, Financial Secretary to the Treasury.