OREANDA-NEWS. On March 27, 2007 JSC SITRONICS (LSE: SITR), major East Europe company which operates high-technology assets of AFK SISTEMA, and ZTE CORPORATION (China), one of the leading manufacturers of telecommunication equipment and supplier of network solutions, signed Memorandum of Understanding concerning development of cooperation in Russian, Chinese and international telecommunication markets, reported the press-centre of  JSC SITRONICS.
 The signature of Memorandum was held in Grand Kremlin Palace in the presence of Russian President Vladimir Putin and Chinese President Hu Jintao. It was one of tenth documents, prepared as the result of Russian–Chinese talks within the framework of official visit of President of the People's Republic of China Hu Jintao to Russia. "We are strongly believe that cooperation between our corporations will be fruitful, - said the Chairman of the Board of Directors of AFK SISTEMA Vladimir Evtushenkov. The traditional scientific school is still strong in Russia, and China succeeded in production of quality high-technology products. If we join our efforts we could solve highly complicated problems".
 JSC SITRONICS and ZTE CORPORATION will focus their efforts on establishing of R&D center in Russia – joint strategic researching centre in the field of development of communication facilities and consumer electronics. The parties intend also to set up a joint venture in Shenzhen for production of electronics and telecommunication equipment. One of the articles of Agreement provides organization of joint development and production of receiving devices for global positioning system "GLONASS" and commercialization of this system on Russian territory.
 Memorandum was signed by President of JSC SITRONICS Evgeniy Utkin and Chairman of the Board of Directors of ZTE CORPORATION Hou Vaigui.