Philips Electronics, the Dutch corporation, is endowing a new chair in international marketing at the China Europe International Business School in Shanghai.
"This is the first time we have dedicated and funded a chair in China, and the step demonstrates our commitment to China," said Jan Oosterveld, member of the Group Management Committee of Philips Electronics.
The business school in Shanghai is a centre for research and expertise in many areas, including marketing.
As a large industrial investor in China, Philips hopes to make a major contribution to the development of marketing here and help along its own business plans here, Oosterveld said.
The Dutch group established its first joint venture in China in 1985. The company now operates 25 joint ventures and wholly owned enterprises here.
The world economic slowdown does not deter the company from investing in China.
"We expect to continue developing and expanding our business in China as it takes a leadership role in the regional and global economy," Oosterveld said.
(China Daily October 23, 2001)
