PARAMETRIC Technology Corp (PTC) opened its Asia Pacific headquarters in Shanghai on Monday and the US-based enterprises IT service provider expected China to become its second biggest revenue contribution region within three years.

PTC has set up the new facility in the Pudong New Area and it plans to hire 500 people in the headquarters by 2009.

"We established the headquarters following our expanding business in China and it will help us give fast responses to our clients," said James Heppelmann, PTC's executive vice president of software products and chief product officer.

At present, PTC has 4,500 clients in China in the aerospace, automobile and electronics industries.