Beijing: : India's Information Technology giant Infosys, armed with a fully-owned in China, is bullish on the booming Chinese IT market and would use its upcoming software development centre to tap domestic as well as overseas markets, a top company executive said today.

"We have just begun our operations in China and are confident about this market," CEO and Managing Director of Infosys Nandan M Nilekani said.

Nilekani, currently in Shanghai to attend the 'Global conference on scaling up poverty reduction' organised by the World Bank and the Chinese Government, said that Infosys would develop its subsidiary in China as a regional hub for the company's global operations.

In October 2003, Infosys established a wholly owned subsidiary in China named 'Infosys Technologies (Shanghai) Co Ltd'.

The subsidiary will be capitalised at $ five million. As of March 31, 2004, the company had invested $ one million in the China subsidiary.

This investment would enable the company to tap the large Chinese domestic market and also to deliver services for markets in Asia Pacific. It will also serve as a hub for software services in the Asia Pacific region, he said.

Nilekani said that Infosys is setting up an advanced software development centre in Pudong Software Park in Shanghai, China's largest city and industrial hub.