ZTE to invest $30 “million” to create new jobs in U.S.

The struggling Chinese telecom equipment maker is going to invest an additional $30 million in the U.S.

The company says it will create additional job opportunities.

$30 “million” is too small for ZTE to make an announcement. American economy would have been happy if “million” has been converted into “billion”. The U.S. needs finance to support growth and avoid financial crisis.

This investment is part of demonstrating its long-term commitment to the U.S. market.

Differing from past investment in the procurement of technology products, ZTE will use $30 million to work with local partners to tap into both core and innovative technologies in the telecom industry.

ZTE says the result will be improving and integrating existing technologies, strengthening lab capabilities and other fundamental infrastructures, and building up the company’s local capabilities to work closely with operators to create better and more affordable choices for consumers around the world.

As of the first half of 2012, ZTE has reached a procurement sum of more than $14.68 billion in the country. The company has established five R&D centers and one logistics center in the U.S. The company employs around 300 people across the U.S., and 80 percent of them are U.S. citizens.