U.S. technology companies that want a piece of the China pie need to take a long-term view — and that could mean developing some of their intellectual property in the world's second largest economy, said the chairman and chief executive officer of Microsoft Greater China Region on Wednesday.
American companies should be prepared to invest in research and development over a period of time and be open to working with local partners to bring various technologies to market, Alain Crozier told CNBC's Deirdre Bosa during a fireside chat at the East Tech West conference held in the Nansha district of Guangzhou, China.
"You have to invest," Crozier said. "Investing means, at some point, some of your (intellectual property) is going to be developed here. So, you need to not have this fear that everything is going to go the negative way. I think that's a very important one."
The United States has previously accused China of widespread intellectual property theft and said it costs the U.S. between $225 billion and $600 billion every year.