EMC China is targeting a quintupling of revenue over the next five years, said Ye Chenghui, global senior vice president of EMC and president of EMC Greater China.

Over the past five years, EMC China has seen a compound annual growth rate of 35 percent with a six-fold revenue increase from small and medium enterprise (SME) services and ten-fold from management solutions and software services, Ye said. In 2012, the company's revenue increased by more than 28 percent.

EMC China plans to boost its number of channel partners from 3,578 to 20,000 in the next five years, according to Ye.

The data-management company will look to have at least 1,000 cloud computing projects underway in over 300 cities in China within the next five years and aims to make new acquisitions and increase revenue by ten-fold in the field of big data solutions.

Finally, EMC China is looking to take 50 percent of the market in data center management services within the next five years.

In August 2012, Lenovo Group Ltd signed an agreement with EMC Corp to develop and sell server and storage technologies.

Analysts believe the partnership will cement Lenovo's position in the server and storage sectors and give EMC greater access to the Chinese market.