Who owns Huawei is irrelevant, who ultimately controls Huawei is the issue, but it’s a simple answer, the Chinese Government.
I was in China on business, we were meeting the one of the largest and most successful tech companies in China. We were meeting with the Chairman/CEO and his team. Everyone was introduced except one man, everyone basically acted like the guy wasn’t in the room. He just sat and listened until he heard something he didn’t like, he quickly took over the meeting, admonished the CEO, and insisted they we do as he said. For the remainder of the meeting the CEO and his team sat head facing the conference table, it was clear they were all terrified.
Once the key parts of the meeting were decided this man got up and left, the meeting quickly ended. I tried to get my Chinese colleagues to explain what happened, but everyone just blew me off.
A couple days later we were in Taiwan, and I got the full story. The man was the party official who guided the company. The guy made sure that the Chinese government’s interests were followed.
It’s China, thinking about things like it’s the West is stupid. Everything is owned by the government.