Global technology provider HP has announced plans to integrate its office sites in Shanghai into a multi-function HP park and establish Chinese regional headquarters for the information products group in the city.

The municipal government of Shanghai and HP signed a strategic memorandum of understanding, stating that HP will improve its research and manufacturing of high-end products in Shanghai. Under the MOU, HP will integrate its several office sites in Shanghai into a multi-function HP park; establish its Chinese regional headquarters for its information products group in Shanghai; and implement wide cooperation with the Shanghai government in infrastructure, energy, and medical areas.

Yu Zhengsheng, secretary of the municipal Party committee of Shanghai, said at a meeting with HP'S CEO Leo Apotheker that they welcome HP to locate its high-end server project and regional headquarters in Shanghai. They will provide consistent support to the company and wish it better development in Shanghai and China.

Apotheker expressed his respect for Shanghai's economic and social development. He said Shanghai is a major region for HP's business development and HP will continue to enhance its cooperation with Shanghai.

HP is one of the largest information technology manufacturers in the world. Its products cover various areas such as printing and imaging, PC, software, service, and IT infrastructure. In 2010, HP's sales reached USD126 billion, ranking 26th among Fortune Global 500.