Huawei founder Ren Zhengfei has downplayed the impact of the recent US restrictions and insisted that the US government ‘underestimates’ the company, BBC News reports.

Speaking to Chinese state media, he said that no company could catch up with its 5G technology in the near future. He also played down the significance of a decision b the US Commerce Department to issue a temporary 90-day licence, insisting that Huawei had already made preparations ahead of the ban.