Ren Zhengfei, the founder of Huawei, said that the Chinese tech giant has replaced thousands of US-banned parts with Chinese-made ones, according to a transcript posted by Shanghai Jiao Tong University on Friday and picked up by the news agency AFP on Saturday, March 18. 

The government run by former US president Donald Trump made it almost impossible for US companies to do business with Huawei. And when Trump left office, his replacement, Joe Biden, added more sanctions, such as a ban on new Huawei equipment being sold in the US.

Huawei has replaced 13,000 components with Chinese-made ones and rebuilt 4,000 circuit boards in the past three years, according to Ren Zhengfei's February speech translation by Shanghai Jiao Tong University.

The comments, which Reuters was unable to independently confirm, offered a glimpse into Huawei's efforts to overcome American trade restrictions. Since 2019, repeated rounds of U.S. export prohibitions have targeted Huawei, a significant provider of technology used in 5G telecommunications networks.

Due to these restrictions, Huawei was no longer able to purchase chips from American businesses or use American technical tools to create its own chips and commission their production from third parties. The sale of brand-new Huawei equipment in the US was likewise prohibited by the Biden administration last year.

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On February 24, Ren delivered the comments in a speech to Chinese technology experts, according to the university. The transcript was published by the university on its website on Friday. On Friday, a request for comment was made, but a U.S.-based Huawei representative did not immediately respond.

Ren stated that Huawei spent $23.8 billion on R&D in 2022 and that they "would continue to raise R&D investment as our profitability improves."

The company's creator claimed that MetaERP, an enterprise resource planning system, was a custom creation. It will assist in managing its primary business processes, such as finance, supply chain management, and manufacturing, when it launches in April.

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Ren asserted that while Huawei has no intentions to compete with the hugely successful broad language model AI ChatGPT, Microsoft Corp. (MSFT.O), the application's developer OpenAI, will not be the only major competitor in the market. Huawei, according to him, aims to serve as the "underlying computing power platform" for AI.