Chinese communications giant to increase investment in Russia

China's leading telecom provider, Huawei Technologies Co. Ltd., will increase investment in Russia, senior management officials said here on Saturday.

"We will increase investment in Russia, enhancing local research and development, as well as providing better service for Russian clients and consumers," said Sun Yafang, chairwoman of board of directors at a ceremony marking the company's 10th anniversary of operations in Russia.

She did not give further details, only pledging that Huawei will insist on the localization of the industry.

Huawei has set up jointly-funded factories and labs in Russia with a total sales volume of 1.2 billion U.S. dollars till 2006 and some 1,000 local employees.

Chinese Vice Premier Wu Yi and Russian Deputy Prime Minister Alexander Zhukov were present at the occasion.

"Chinese companies, typically Huawei, have contributed to the Sino-Russia cooperation in the telecommunication sector by providing quality products, solutions and back-up service," said Xi Guohua, Chinese vice minister of Information Industry.

Huawei has established more than 100 branches worldwide, including research and development centers in Russia. It has more than 1 billion customers and top telecommunications service providers as clients in more than 100 countries.

The company's annual sales income totaled 11 billion U.S. dollars last year, of which, some 70 percent were from the international market.