Huawei agreed to sell access to its 5G tech

Amid the US-China trade war, Huawei has disclosed that the company is willing to share its know-how of existing 5G technology for a fee with a western firm.

The proposal, made by Huawei Founder and CEO Ren Zhengfei, in interviews with The Economist and the New York Times, is seen as a move to put concerns about the security of the company's 5G technology to rest.

According to a report in the BBC, while the US and Australia have banned their networks from using Huawei's equipment, the UK is still weighing a decision. Huawei has repeatedly denied accusations of spying for the Chinese government.

"(Huawei is) open to sharing our 5G technologies and techniques with US companies, so that they can build up their own 5G industry," the NYT quoted Ren as saying. "This is expected to create a balance situation between China, the US and Europe."

He noted that Huawei would be looking for a buyer based outside Asia, somewhere in the West. In an interview to The Economist, Ren said that for a one-off payment a buyer would be given access to the company's portfolio of huge 5G patents, licences, code, technical blueprints as well as production expertise