It's more classic quid-pro-quo than corruption, which the impeachment hearings should reveal, is completely normal diplomatic behavior, and only problematic when wield for personal again at the expense of national interest. Which pushing Huawei or Boeing is not, which is why this headline reads as wildly sensationalized.

It is corruption if the Faroese politicians rig the process to favor a particular company as part of a quid-pro-quo.

It would've been less problematic if there had been plans to exclude Huawei altogether and the Chinese embassador communicated that a trade agreement would require Chinese companies to be treated no different than domestic companies. But requiring Huawei to be chosen even if they wouldn't be considered the most suitable candidate otherwise goes too far in my opinion.