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Motorola's Investment in China to Total 10 Billion Dlrs
Motorola announced Wednesday in Beijing that it would increase its total investment in China to 10 billion U.S. dollars by the year 2006.
The multinational also plans to purchase accessories and services in China with a cumulative worth of 10 billion U.S. dollars by the year 2006, according to a global conference of the Motorola board of directors held here Wednesday.
Motorola will spend an extra one billion U.S. dollars on research and development in China over five years, making Beijing one of its global R&D bases with the technology core sector to be stationed in the Chinese capital.
Motorola is expected to have up to 5,000 researchers and engineers in China by the year 2006. Currently it has opened 18 R&D centers in China with about 1,000 employees.
The directorate has also decided to increase Motorola's annual output in China to 10 billion U.S. dollars by 2006.
Christopher Galvin, chairman and chief executive officer of Motorola, said that it shows the significance of the Chinese market that Motorola held this conference in Beijing despite the sluggish world economy.
Participants reinforced their long-term commitment to China and expressed their support for China's entry into the World Trade Organization.
Beijing is now the only foreign city out of the United States where the conference has been held twice.
Motorola, which entered China in 1992, has invested 3.4 billion U.S. dollars in the country and has brought about another four billion U.S. dollars to suppliers.
Motorola is China's biggest foreign investor. It has 176 suppliers in China, from which it purchased two billion U.S. dollars worth of goods last year.
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