(AFP) – Nov 13, 2008
BEIJING (AFP) — Microsoft Corp. said Thursday it plans to spend one billion dollars on research and development in China, suggesting a continued focus on the country's huge market, despite the global financial downturn.
"Our investment in research and development in China over the next three years will exceed one billion dollars," said Zhang Yaqin, chairman of the company's China research and development group.
The investment would "greatly boost information technology innovation in Microsoft and China," he told reporters in Beijing.
"The one billion dollar investment over the three years is new investment... which will focus on human resources and other resources linked to research and development," he said.
He said the investment did not include money spent on mergers and acquisitions, suggesting Microsoft's investments in China could actually be even larger over the next three years.
Zhang's statement came as a signal that the corporate world remains interested in China, despite the slowdown in the global economy.
General Motors said Wednesday that it was making money in China and was continuing its investments there.
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