With more business activities resuming across the region, the International Monetary Fund forecasts Asia Pacific’s GDP to expand by 4.9% this year. However, that forecast can only become a reality if businesses in the region reinvent themselves for the digital-first economy.
Global technology leader Huawei plans to invest $100 million over the next three years to enable the development of information and communication technology startups in Asia Pacific, a top company official said.
The digital economy has become a major engine of global economy. Green and low-carbon technologies have become new drivers for sustainable development. Asia-Pacific is ripe with opportunities for digital transformation, and a digital Asia-Pacific is rapidly approaching.
Huawei released its 2021 Annual Report on March 28, revealing that the company had maintained solid operations throughout the past year. As per the report, Huawei achieved CNY636.8 billion in revenue in 2021, and CNY113.7 billion in net profits, an increase of 75.9% year-on-year. The company's R&D expenditure reached CNY142.7 billion in 2021, representing 22.4% of its total revenue, and bringing its total R&D expenditure over the past 10 years to over CNY845 billion. Moving forward, the company also plans to continuously increase investment in R&D.