Getty Images
Industryweek 8946 Cisco
Industryweek 8946 Cisco
Industryweek 8946 Cisco
Industryweek 8946 Cisco
Industryweek 8946 Cisco

Cisco to Invest $10 Billion in China

June 18, 2015
Cisco signed a Memorandum of Understanding (MOU) to expand investment in innovation, equity investment, research and development and job creation.

BEIJING—Technology giant Cisco announced Thursday that it will invest more than $10 billion in China in coming years to help the country "innovate and globalize."

Cisco signed a Memorandum of Understanding (MOU) with the National Development and Reform Commission, the country's top economic planning agency, to expand investment in China focusing on areas of innovation, equity investment, research and development and job creation, the company said in a statement.

The company, which entered China in 1994, also inked an MOU with an association of universities of applied science to train information and communications technology talent, it said. 

The initiatives are worth in excess of $10 billion, which will be spent over the "next several years," the company said.

Cisco's routers, servers and switching systems are key units of global interconnectivity and help power the Internet.

"We look forward to furthering our digitization efforts, contributing to talent development and GDP growth opportunities in China," Cisco Chairman and CEO John Chambers said in the statement.

Gross domestic product in China, the world's second-biggest economy, expanded 7.4% last year, the weakest since 1990, and slowed further to 7% in the January-March period, the worst quarterly result in six years.

The programs "combine Cisco's strengths with the direction of China's industrial transformation" and are expected to help the country "innovate and globalize," the statement said.

"With these new partnerships and initiatives, Cisco is investing in the next generation of Chinese technology innovation," the company's incoming CEO Chuck Robbins was quoted as saying in the statement.

Copyright Agence France-Presse, 2015

Popular Sponsored Recommendations

Connected Manufacturing – The 5 most impactful use cases for Industry 4.0

April 18, 2023
Learn how to build a smarter, more connected factory through private cellular networks and five of the most impactful use cases. Create operational efficiencies and a safer work...

Industry Insights: The Use of Private Cellular Networks in Manufacturing

Aug. 14, 2023
Private 5G cellular networks equip manufacturers with a powerful technology, improving their operations, increasing their security and accelerating their digital transformation...

The ROI of Smart Manufacturing

April 18, 2023
Is smart manufacturing worth the investment? Explore our ABI Report and learn how private cellular networks can generate a 10x to 20x ROI as it highlights five promising use cases...

Get ready for CLOUD 9: Nine reasons to move to the Microsoft Cloud

Jan. 24, 2024
With pioneering AI (Copilot, built on OpenAI) and best-in-class low code development tools (Power Platform), the Microsoft Cloud has no equal. Learn a whole lot more in in “Moving...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!