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Webex Chooses Hangzhou as Chinese Headquarters
US-based Webex, a global leader in production of Internet multi-media live conference systems, said recently it will move its Chinese headquarters to Hangzhou in east China's Zhejiang province.
Listed on the NASDAQ, Webex has market value of two billion US dollars and its clients include the AT&T, Oracle and Yahoo.
Webex President Zhu Min, a native of Ningbo, near Hangzhou, explained that Hangzhou has an ideal environment for developing hi-tech industries, in terms of both human resources and investment policies.
Webex has decided to invest 200 million yuan (24.1 million US dollars) to establish a software institute in Hangzhou, a city that has targeted its software annual output value at 12 billion yuan (1.46 billion US dollars) within the coming five years.
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