Firm eyes expansion in China

Applied Materials Inc, world's largest semiconductor materials engineering solutions provider, is planning to expand in the China market through investments and other projects with a combined value of 4 billion yuan ($616 million) in the next few years, said its President and CEO Gary Dickerson.

"China's pro-innovation environment for high-tech industries has given the semiconductor and display industries tremendous opportunities for companies such as Applied Materials," said Dickerson.

Dickerson made the statement in an interview on Monday in Shanghai, adding that he is optimistic about market demand in China for semiconductor and display products as technologies evolve and consumers are trading up amid nationwide trends requiring more products for big data, the Internet of Things, artificial intelligence and virtual reality.