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SAN JOSE, CA - AUGUST 10: A sign is posted in front of the Cisco Systems headquarters on August 10, 2011 in San Jose, California. Cisco Systems reported better-than-expected fourth quarter revenues with a 3.3 percent rise to $11.2 billion as the company continues to scale down its business. (Photo by Justin Sullivan/Getty Images)
Cisco, the world’s biggest maker of switching equipment and routers that run the Internet, has announced plans to invest more than $10 billion in China along with local business partners over the next several years.
Following high-level meetings between top executives and Chinese Vice Premier Wang Yang and other government agency leaders, the company said it had signed a Memorandum of Understanding (MoU) with China’s state planner, the National Development and Reform Commission, to expand investment in the country.
Cisco also signed an MoU with the Association of Universities (Colleges) of Applied Science (AUAS) to advance technical training of information and communications engineers, in a deal that will see it invest in a four-year network engineer training program with 100 universities and colleges of applied science recommended by AUAS.
The investment is expected to be used to fund innovation, equity investment, research and development and job creation.
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