Microsoft to invest US$750m in China

Microsoft Corp said that it would invest US$750m in China over the next three years as part of a software development deal with the Chinese government. Under a memorandum of understanding signed in Beijing by Microsoft chairman Bill Gates and State Development Planning Commission minister Zeng Peiyuan, Microsoft will invest the money in education, research co-operation, hardware manufacturing outsourcing and cooperative development in local software companies. The two parties will set up a cooperation committee and a working party to drive the implementation of the agreement.