US software giant Actuate Corporation plans to establish its first overseas research center in east China's Shanghai Pudong Software Park, David Runacres, president of Actuate's Asia-Pacific region, has announced.

Founded in 1993, Actuate is well-known for its business software, which is applicable in the finance, insurance and medical fields.

Actuate would invest 10 million US dollars in its Chinese research center in the next three years, said Runacres. The center,with 60 researchers, would study China's telecommunications, industrial, and transport markets, in preparation for manufacturing China-oriented software.

"China has become the second biggest IT market in Asia," said Runacres. "With Shanghai's good infrastructure, human resources and business environment, we think it is the most suitable place to set up our research center."

He said the center would cooperate with the San Francisco-based headquarters to make globally applicable information technology products.

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