Founded in 1987, Huawei is a leading global provider of information and communications

(i) Foreign currency transactions
Foreign currency transactions during the year 
are translated into the respective functional 
currencies of group entities at the foreign 
exchange rates ruling at the transaction dates.
Monetary assets and liabilities denominated 
in foreign currencies are translated into the 
functional currency at the foreign exchange 
rates ruling at the end of the reporting period. 
Exchange gains and losses are recognised in 
profit or loss.
Non-monetary assets and liabilities that 
are measured in terms of historical cost 
in a foreign currency are translated using 
the foreign exchange rates ruling at the 
transaction dates. Non-monetary assets and 
liabilities denominated in foreign currencies 
that are stated at fair value are translated 
using the foreign exchange rates ruling at the 
dates the fair value was measured.

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2020 Annual Report