When Apple CEO Tim Cook visited China earlier this month, it's possible that part of the trip was spent wrapping up a deal to open a new research and development center there. As China Business News reports (link in Chinese), the company is a lock to open an R&D operation in Pudong, Shanghai this summer. The announcement was made by the Shanghai Municipal Commission of Commerce, although Apple has yet to issue an official statement regarding its plans.
Apple will reportedly pay a yearly 50 million yuan (US$8.03 million) to rent three buildings -- one of which will house the R&D center -- in what the company has called its second-largest market. Rumors have suggested that Apple is also looking to establish a data center in China to service the rapidly expanding territory, but there's no word if the Shanghai site is also being eyed for that purpose.