Huawei chairman John Lord has pointed to the National Broadband Network as an example of what happens when Canberra imposes bans on Chinese companies, saying the $49 billion government-owned network is "not a world leader".

In the aftermath of a decision to ban companies like Huawei and ZTE from participating in building the nation’s 5G networks, Mr Lord has argued the choice will have ramifications for the cost and efficiency of upcoming mobile network builds.

Huawei chairman John Lord said telling the company to sit-out of upcoming network builds would result in the same situation as in 2011. Credit:Alex Ellinghausen

"I was called in by government in 2011 to be told we could not participate in the NBN," Mr Lord told Fairfax Media, claiming Huawei’s proposal cost 25 per cent less than competing equipment providers at the time.

"With all due respect to those who got the NBN working and got it done well, it’s not a world leader, it would have been a lot better with three top companies competing in price and technology," he said.