BT Group Plc plans to spend at least $70 million over the next few years on two new research and technology hubs in China, Francois Barrault, chief executive of BT Global Services, said on Thursday.

The British telecommunications company plans to set up a research and development centre in Shanghai, which will focus on creating new products and services, and a technology and service centre in the northeastern port city of Dalian.

The Dalian operation, which will develop software and provide support services for BT's customers across Asia, has already hired 60 people, the company said in a statement.

Barrault, who was speaking to reporters during a meeting of the World Economic Forum in Dalian, said investment in the two hubs could reach $100 million.

"Right now, we are prepared today to invest $70 million at least in the two centres," he said.

BT was also open to the possibility of acquisitions to speed its expansion in China, Barrault said.

"When you arrive in a country, either you build the network, either you buy a company, either you sign a partnership. So, I'm looking at the three of them," he told Reuters.

Describing growth prospects in China as huge, Barrault said: "So I will not be surprised if at some point we do some M&A here."