IBM moves to China
IBM has moved its global procurement headquarters from New York to China.
It is the first time the company has moved the headquarters of a global unit outside the US.
According to a report in the Financial Times, John Paterson, chief procurement officer at IBM, has relocated to Shenzen, the Chinese special economic zone that borders Hong Kong.
The move to Shenzen will not affect staff in the US, where nearly 2,500 people work in procurement operations.
IBM has operated a China procurement centre in Shenzen for more than ten years and also has a PC manufacturing joint venture in the city.
IBM operates a large sourcing operation in Asia, but sold its PC business to Chinese competitor Lenovo in 2004 and its hard-drive business to Hitachi.