SMM5, June 6: according to the latest report, a person familiar with the matter said that the US Department of Commerce is about to sign a new rule that allows US companies to work with Chinese Huawei technology companies to develop next-generation 5G network standards.

The draft is under final review by the U.S. Department of Commerce and, if approved, will be submitted to other agencies for approval. It is not clear how long the process will take, or whether there will be any opposition.

Industry standards are the big business of telecoms companies, which scramble to see patented technology as an essential part of the standard, which could boost the company's profits by billions of dollars.

The Commerce Department added Huawei to its "list of entities" in May last year, restricting the sale of US goods and technology to the company and raising questions about how US companies are involved in setting industry standards.

After nearly a year of uncertainty, the department has drafted a new rule to address the problem. The rule is likely to continue to change, according to sources.

Naomi Wilson, senior director of Asia policy at (ITI), the information technology industry council, said the US government wants US companies to remain competitive with Huawei. But their policies inadvertently caused American companies to lose seats to Huawei and other companies on the entity list.

"Click to sign up: 2020 China International stainless Steel Industry Market and Application Development Forum

Scan QR codes, apply to attend the meeting or join the SMM Metal AC Group