China: List of unreliable foreign companies coming soon

Huawei signs deal with Russian telecoms firm MTS to develop 5G technology in Russia

The deal was signed on the sidelines of a meeting between the presidents of the two countries, Xi Jinping and Vladimir Putin.

However, the reported agreement contradicts with a report by The New York Times a few weeks ago, which said the Russian government, through its affiliated news agency, is exaggerating the negative health implications of 5G networks in order to sway people's excitement over the most advanced fifth generation cellular network technology. Apart from publicly denouncing the Chinese firm, the United States barred Huawei equipment from the country and banned the transfer of technologies and software to it by USA companies.

China's Commerce Ministry says it will release the list in the near future.

Chinese officials say a comprehensive deployment of the network will help develop industrial manufacturing, internet-connected cars, healthcare, smart city management and Artificial Intelligence (AI).

Huawei also signed a cooperation agreement on 5G development with Russian mobile operator Beeline, controlled by the Veon Group, earlier this May.

On the sidelines of the two leaders' summit, Huawei, having been banned in the U.S., signed a deal with Russian telecoms company MTS to develop a 5G network in Russia.

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China and Russian Federation have similar approaches to internet services.

Even as Huawei grew to become one of China's largest businesses, companies around the world have been cutting ties with Shenzhen-based Huawei in order to come into compliance with the US ban.

Still, some countries including Australia and New Zealand have blocked Huawei from supplying equipment for 5G mobile networks.

Now playing: Watch this: What is going on between Huawei and the US?

Washington and many of its allies argue that Huawei's products purposefully include security loopholes that permit espionage by China's government and other actors.

President Donald Trump has ordered tariffs of up to 25% on hundreds of billions of dollars' worth of Chinese exports and his administration is preparing to extend them to $300 billion more - nearly all items shipped to the USA from China.

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