EMC plans China expansion
US data storage system provider EMC Corp plans to open 20 branches in provincial capitals across China over the next five years, the Shanghai Business Journal reported. The company opened its first branch in Nanjing, Jiangsu province, and plans to open another three in Xi’an, Shaanxi province, Wuhan, Hubei province, and Shenyang, Liaoning province, by the end of this year. The company announced last year it was establishing an R&D center in Shanghai to employ 500 engineers and technicians by 2008, and said it would gradually invest a further US$500 million (RMB3.8 billion) expanding in China over the next five years. “We are seeking more local partners to expand our business beyond Shanghai to the second-tier markets,” EMC China director Dennis Yip said. “We expect to quadruple the number of local partners to 2,000 in two years.” China’s data storage system market is driven by financial and telecommunications companies, with three of China’s big four commercial banks subscribing to EMC’s products. China’s data storage equipment market was worth US$263 million (RMB2 billion) in the first quarter.