With continued investments, Synopsys more committed to China

The US software company Synopsys Inc shows its commitment to the Chinese market with its continuous investments here, especially in the research and development sector.

At a news conference held in Shanghai Wednesday, Synopsys announced that it will invest $50 million to build up an industrial park in Wuhan, which is expected to be operational by late 2019. The company opened an R&D and technical support center in Wuhan in 2013, with about 189 engineers working there.

Regarding China's economic development direction, Synopsys will explore business opportunities in industries such as automotive, medical, internet of things, financial, machine learning and digital intelligence, according to Tan Geok-Cheng, managing director of the software integrity group at Synopsys Asia Pacific.

As she anticipated, there will be tremendous business potential for Synopsys in China, as cybersecurity investment takes up less than 1 percent of the total information technology investments by Chinese companies. But in mature markets, such an investment will account for nearly 15 percent of total IT investments.

Founded in 1986, Synopsys is a world leader in the electronic design automation of software. It expects to register an annual turnover of $2.6 billion for the fiscal year 2016.

Synopsys entered China in 1995 and now has an office network in Shanghai, Hong Kong, Shenzhen and Wuhan. Earlier this month, it announced plans to set up its regional headquarters in Nanjing of East China's Jiangsu province.

Major clients of Synopsys in China include Alibaba Group Holding, Tencent Holdings, ZTE Corporation, China Mobile Communications Corporation and Shanghai Automotive Industry Corporation.