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A Chinese telecom firm Huawei says it will spend 2 billion US dollars over the next five years on cyber security. It plans to employ more staff and upgrade lab facilities as well. Huawei Chairman, Hu Houkun, rejected allegations about the company's network security. He told reporters that no evidence had been presented to back them up. And he said no one can improve by locking out competitors. The Chairman confirmed that Huawei had secured more than 25 commercial contracts for 5G networks. He said company revenue is on track to reach 100 billion US dollars this year.
