Fuji Xerox moves Asia HQ to China

Japanese printing and photocopying firm Fuji Xerox is moving its Asia-Pacific headquarters from Singapore to Shanghai, Nikkei said. It hopes that a US$300m investment in China and a new hub in Shanghai will help to double its copier sales in China to US$500m by 2005. The Asia-Pacific HQ deals with business in the region outside Japan. The company sold 230,000 copiers in China last year, but plans to increase that to 700,000 by 2007, on a par with current sales in Japan.