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Samsung vows to continue investing in China's future

AT the close of a national science and innovation contest during the weekend in Beijing, sponsor Samsung Electronics renewed its pledge to continue its efforts in research and social responsibility in China.

Students from including the Tsinghua University and the Hubei Normal University won top awards in the Solve for Tomorrow contest, covering themes of data transfer, clean-energy usage and security. The students also won opportunities to visit US universities, according to organizers Samsung Electronics, the China Association of Science and Technology and the Communist Youth League.

Samsung Electronics, whose revenue jumped 50 percent in China last year, will contribute to youth development and innovation for the long term in China, according to Park Jae Soon, president of Samsung Electronics China.

In 2012, Samsung Electronics China’s revenue was US$14.3 billion, growing 51 percent year-on-year. Samsung invests about six percent of annual revenue on research and development globally and in China. In 2012, it spent US$10.8 billion on research globally.

Samsung will also increase investment supporting rural regions, education, social welfare and environmental protection in China starting this year.

The science and innovation contest lasted from September to December in five major cities including Beijing, Shanghai, Guangzhou, Chengdu and Harbin, attracting more than 10,000 students from 2,700 universities and middle schools.

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