Ericsson to Invest US$5.1 Billion in China's High-Tech

Ericsson has decided to invest US$5.1 billion in China's high-tech industry over the next five years.

According to a five-year plan mapped out by the company, Ericsson's export volume from China to overseas Ericsson market is expected to rise by threefold from US$1.49 billion in 2000 to US$4.5 billion.

Besides, investment in research and development and in human resources will be raised to US$572 million in 2005, almost doubling the present figure..

Ericsson, one of the most successful foreign investors in the Chinese market, has already opened 24 offices and 10 joint ventures in China employing over 4,000 local employees.

People's Daily Online --- http://english.peopledaily.com.cn/