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"During recent bidding for the core network launched by China Mobile, about 44 percent of the market share went to Ericsson and Nokia, while we got a little over 50 percent. The West is most concerned about the core network when it comes to cyber security. China is open in this area, so it allows western companies to have such a large market share in the core network. This also shows that China trusts them," Ren said according to a transcript made available by Huawei.

"Essentially, the debt problem is related to development issues, which should prevent the liquidity crisis in the short term and ensure adequate capital in the long term."

"Electric cars are not rocket science and there is no need for the government to make an exception," he said.

"During the epidemic, when the overseas situation greatly influenced enterprises' overseas operations, having a domestic vertical supply chain became increasingly important. A supply chain spanning production to sales enables enterprises to acquire raw materials and sell goods in the most convenient manner, offering them a solid chance to survive during difficult times.

"During the process, you will know what you like and what you are good at and lay down your own path", he added.