Multinationals turn to China’s west - Xinhua
From China Daily (link):
The U.S.-based Applied Materials Inc. clinched a deal this week with the high-tech development zone in Xi’an to build a global R&D center in this capital city of northwest China’s Shaanxi Province.
The American company will invest US$255 million into the project, designed to be another global tech center outside its headquarters in the United States, according to the contract.
Currently, 83 companies of the Fortune 500s have established their presence in the city, up from 24 a year earlier.
See also “China: Go West, Westerners” in BusinessWeek Nov. 2005
And “Go west speeds up in next five years” in China Daily Jan. 2005
POSTED COMMENTS: One Response
Interesting post. I am always blogging about how foreign companies are (and should be) considering cities other than Shanghai and Beijing, but I am still surprised at the rapidly increasing number of big companies going to Xi’an.