Huawei this week said it is on course to meet the U.K. spending target of £1.3 billion that it set itself in 2012.
"We are exactly on track to meet this five-year target," rotating CEO Ken Hu said at a reception hosted by the Chinese company in London on Monday evening.
The £1.3 billion will be evenly split between investment and procurement.
His comments came as Huawei presented the results of an economic impact study carried out on its behalf by Oxford Economics.
The report showed that Huawei’s contribution to U.K. GDP has reached £956 million since 2012.
"[That is] sufficient to support 7,400 jobs in this country," Hu said, as he talked up his company’s "special relationship" with the U.K.
"The regulatory environment [in the U.K.] makes business simple," said Lord Browne of Madingley, a U.K. peer and independent non-executive chairman of Huawei’s U.K. board.
"Huawei has made the most of this environment," in the 14 years since it launched operations in the U.K., Browne said.
The appointment of its U.K. board of directors, which was expanded earlier this year to include Lord Browne and other senior business names, is critical to Huawei’s success in the market, Hu said.
As a result, "we will be able to better serve the U.K. market," Hu said.
