Communications technology provider Huawei has set up a finance division in London as the company looks to invest £1.3bn by 2017.
The new centre is part of the Chinese company’s overall finance department and will be responsible for assessing market risk, liquidity risk, operational risk, country risk and counterparty risk.
"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," said Cathy Meng, Huawei CFO, at the ICT Finance Forum in London on 20 November.
The centre will also assess credit risk for business in the Europe, Middle East and Africa (EMEA) region.
Sajid Javid MP, Financial Secretary to the Treasury, who attended the forum, said: "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."
