China and France have committed to allowing Huawei to invest in French 5G networks.

The French finance minister confirmed the news on Tuesday, saying the Chinese tech company will not be subject to a "blanket ban."

Bruno Le Maire said sites of particular sensitivity would be protected and French national security would not be comprised by the decision.

The announcement came as the two countries concluded their seventh annual High-Level Economic and Financial Dialogue.

Le Maire and Chinese vice-premier Hu Chunhua met virtually and the meeting covered a wide-range of topics, from climate change and biodiversity, to agriculture and nuclear power.

On 5G, the statement released at the end of the China-France talks read: "Both sides will join efforts to secure a fair and non-discriminatory market environment, and encourage businesses from all countries to participate in the 5G network construction in line with market principles and security principles."

The meeting sought to build on the deals and agreements the two countries made last year, when China and France signed trade deals worth 15 billion U.S. dollars.