Industry

Cisco Unveils $16 Billion China Expansion Plans

11/24/07 12:07 PM Posted by Jennifer Kessinger

The CalTrade Report reported on November 23, 2007 that Cisco Systems, Inc. has unveiled a $16 billion China expansion plan involving investments in manufacturing, venture capital, and education. John Chambers, Cisco's chief executive stated that the ventures include a partnership with Alibaba Group, China's biggest online commerce company, to explore developing web-based business services for small and medium-sized companies.

Cisco's expansion plans involve:

doubling Cisco's manufacturing capabilities in China over the next three to five years;
a $100 million venture capital partnership with the government-owned China Development Bank to explore jointly providing capital and expertise for Chinese businesses in fields such as information technology, health care, and communications; and
a partnership with China's Education Ministry to open 300 centers at vocational colleges to train students in networking technologies, adding to the 200 current centers that have taught some 90,000 students. Cisco will donate equipment worth $6 million to the project.

Tags: China