SHENZHEN - Chinese technology firm Huawei said on Thursday that it plans to invest $100 billion to rebuild its network system in the next five years.

Huawei will increase its investment to achieve four goals -- minimalising the network; minimalising the transaction models of network; achieving utmost cybersecurity; and the privacy protection of the General Data Protection Regulation (GDPR) meeting the European standards, said Ren Zhengfei, founder and president of Huawei Technologies Co Ltd at a group interview in Shenzhen.

"We plan to invest greatly on research and development in the next five years to build the world's best network," said Ren.

He also stressed that Huawei would always take cybersecurity and privacy protection as the company's top guiding principle. "We raise our awareness of cybersecurity to such a high level because we are facing the future of cloud computing era underpinned by cybersecurity," said Ren.

Recently, the company has opened its advanced labs and production lines for media visits.