China is treating everything they own as a politics weapon now. 5G contract is a perfect weapon in this view. Telecom infrastructure is huge, and almost monoplied by the base infrastructure builder due to compatibility issues. Once Huawei finished the 5G base infrastructure, China can coerce UK by attach extra terms for maintaining, upgrading or selling 5G equipments.
China has already used this approach on loans of asia investment bank. The countries which supports HK Security Law coincidentally matches with the countries which receives loans from investment bank.
There may be more under water. Some may already exposed: (China's evil virus plan) https://www.foxnews.com/world/chinese-virologist-coronavirus...
Some may still remains to be conspiracy theory: China increased production of hydroxychloroquine, in their reports (http://tn.china-embassy.org/chn/dtxws/t1787078.htm), they already used Chloroquine in treating their patients. However, WHO, FDA and even Lancet banned or announced inefficiency of hydroxychloroquine, and people died from this misinformation. What role did China play remains suspicious and mysterious.