Sep 10, 2015 07:08 PM EDT

Dell Plans To Bankroll $125 Billion Into China For Five Year Plan

Dell, the world’s third biggest personal computer maker has plans to bankroll $125 billion in China in a five-year plan.

Michael Dell, chief executive made the announcement as the company carries on its expansion into China, the second country in the world with the largest economy.

The investment of Dell into China would sustain above 1 million jobs in the country and would provide about $175 billion to exports and imports.

In a written statement, Michael Dell stated, "The Internet is the new engine for China's future economic growth and has unlimited potential.”

He added that his company will grasp the country’s principle of "in China, for China" and meticulously integrate Dell China scheme with the national policies. Dell would also move on to branch out its research and development team, as per Reuters.

With the planned expansion, the Round Rock, Texas-based firm will associate with the Chinese Academy of Sciences to build a lab focusing on artificial intelligence, join with local firms for technology growth and allow its venture capital company to perform in the country.

Bloomberg reported Dell has also inked a vital partnership agreement with Beijing’s Kingsoft Corp. to sell and co-develop products detailing to cloud computing and big data.

Before it was privatized in 2013, Dell has been in China for nearly twenty years, with annual sales reaching an estimated $5 billion.

It has previously announced in January that the company has teamed up with China Electronics Corporation, owned by the state and Guiyang’s municipal government.

Dell's president of enterprise solutions, Marius Haas, in an interview with Reuters said that partnership was the means to operate in China and the computer maker had become bolder with the said strategy.

The research firm International Data Corp reported Dell comes in third after Lenovo Group Ltd. and Hewlett-Packard Co. in global PC shipments in the second quarter, as per Yahoo News.

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