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Microsoft Says to Invest $750 Million in China | |
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| Time: 05:47 EST/10:47 GMT | News Source: Reuters | Posted By: Julien Jay | ||
Software giant Microsoft Corp announced by far the biggest Sino-foreign software tie-up on Thursday, saying it would invest $750 million in China over the next three years. Redmond, Washington-based Microsoft signed a memorandum of understanding with China's powerful State Development Planning Commission during a two-day visit by chief executive Steve Ballmer to a market which has often confounded his firm. No further details on the $750 million investment were immediately available. But Microsoft also announced a separate 200 million yuan ($24.15 million) three-year investment in Chinese educational and research institutions, plus a $480,000 investment to set up a software college in Shanghai. | ||
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