Huawei raises registered capital to 63.9b yuan

Huawei Investment & Holding Co., the parent company of Huawei Technologies, has increased its registered capital by 10 per cent to about 63.9 billion yuan (US$8.8 billion) from 58.1 billion yuan, according to corporate registry data. Established in 2003, the firm is jointly owned by Huawei's trade union committee and founder Ren Zhengfei. Its registered business scope includes research, development, sales and services of high-tech products.