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BEIJING (AP) - Intel Corp.'s plan to build a chip factory in China is a victory for China's campaign to attract high-tech investment that it hopes will speed development of its own technology industries.
Intel CEO Paul Otellini, announcing the $2.5 billion wafer fabrication plant, pledged support for China's effort to transform itself from a low-cost factory to a creator of technology.
"Our goal in China is to support a transition from `manufactured in China' to `innovated in China,'" Otellini said Monday at a ceremony attended by Chinese and U.S. officials in the Great Hall of the People.
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