AMD president and CEO Hector Ruiz traveled to Beijing this week where he met with senior Chinese government officials, announced plans to expand AMD's business operations in China through a new wholly-owned subsidiary, and celebrated the donation of an endowment to support two education initiatives for Chinese students.
'China is quickly becoming an economic and technology leader,' Dr. Ruiz commented during his trip. 'AMD is committed to supporting the growth of China's overall IT market and strengthening our long-term, successful relationships with our customers and partners in China.'
At a press event on Tuesday, Ruiz, Dirk Meyer, senior vice president of AMD's Computation Products Group, and Karen Guo, AMD's corporate vice president and general manager of China, announced plans to establish a new wholly-owned subsidiary, Advanced Micro Devices (China) Co., Ltd. AMD's business continues to grow rapidly in China, and the formation of AMD China, a wholly-owned foreign enterprise, will allow the company to conduct a wider range of business operations in the region. AMD also intends to consolidate its management, staff and operations in China through the new subsidiary.