CHAIRMAN AND CEO of Cisco, John Chambers is in Beijing signing strategic agreements with Chinese government officials covering the Internet infrastructure giant's development plans there.
Cisco reportedly will be investing up to $16 billion in China over the next five years.
After meeting with local government officials in Shanghai, Chambers signed a strategic cooperation agreement with Peking University in Beijing. He will also ink deals with China's National Development and Reform Commission and Ministry of Commerce.
Under Cisco's agreement with Peking University, the company will invest $20 million to set up a research academy at the university's Guanghua School of Management for Chinese officials and entrepreneurs.
According to the agreement with China's NDRC, Cisco plans to cooperate on the research and development of next-generation Internet and green infrastructure programmes.
The memorandum with China's Ministry of Commerce will address Cisco's plan to coordinate with it in the promotion of Chinese software outsourcing.
Cisco will invest a further $350 million in Chinese small and medium enterprises and plans to set up 300 network technology programmes in Chinese schools in the middle and western regions of the country.
Chambers also announced the establishment of a China Strategy Commission within Cisco, making it the first multinational technology company to do so. µ
China Tech News
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