Motorola announced Wednesday in Beijing that it would increase its total investment in China to US$10 billion by the year 2006 after an annual board meeting of Motorola held in Beijing. It is the first annual board meeting that Motorola has ever held outside the United States.
Christopher Galvin, chairman and chief executive officer of the Motorola Inc. and with his delegation, were also met with Chinese President Jiang Zemin Wednesday. Both two sides support to further promote the cooperation between Chinese information and Motorola.
Jiang set a high value on the achievements Motorola has made in China and extended his support for further economic and technical cooperation between the Chinese information industry and Motorola.
Christopher Galvin said that the directorate of Motorola has full confidence in the Chinese market and will promote closer cooperation with information industry players of the country.
The multinational also plans to purchase accessories and services in China with a cumulative worth of US$10 billion by the year 2006, according to a global conference of the Motorola board of directors held here Wednesday.
Motorola will spend an extra US$ one billion 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 US$10 billion 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.
Motorola, which entered China in 1992, has invested US$3.4 billion in the country and has brought about another US$ four billion to suppliers.
Motorola is China's biggest foreign investor. It has 176 suppliers in China, from which it purchased US$ two billion worth of goods last year.
( November 8, 2001)
