News for CSCO
US Information Technology Firm Confident of Investing in China
BEIJING (June 16) XINHUA - Cisco Systems, one of the leading US
suppliers of computer and communications networks and related products,
announced an investment plan involving 100 million US dollars here last
week, to accelerate its technology transfer, senior managerial staff
recruiting and cooperation with communications service providers in
China.
John Chambers, president and chief executive officer of Cisco, said
that the plan will also help the company to launch partnerships with
Chinese manufacturers and build more laboratories and representative
offices across the country.
Under this ambitious investment plan, Cisco will recruit 200 local
employees this year to strengthen its operations in major Chinese
cities, including Beijing, Guangzhou, Shanghai and Chengdu. Cisco is
expected to double its China business by the end of this year.
Moreover, Cisco will invest five million dollars in a solely-owned
networking technology company in Beijing, and one million dollars in a
network laboratory specializing in demonstrating the latest networking
technologies and applications.
According to Chambers, Cisco's China business revenues increased by 200
percent last year.
Chinese industrial analysts point out that the Cisco investment plan
should be taken as another signal that underscores the increasing
interest of foreign information technology industries in China, in the
wake of the onset of the Asian financial crisis.
Suffering decreasing efficiency and economic benefits in its Southeast
Asia businesses, Motorola has announced that the company will provide
the Chinese market with more priority in its future investment. A new
China investment plan will be made public within this month, according
to sources with Motorola (China) Ltd.
Oracle, another major software developer in USA, has signed a contract
with the Civil Aviation Administration of China (CAAC) to build the
CAAC Property Management Information System.
Thanks to the fast-growing economy here and the stable Chinese
currency, the huge potential of the China market will continue to be a
big attraction for more and more foreign capital and advanced
technologies, said a representative of Oracle at the signing ceremony.
Enditem
16/06/98 14:03 GMT
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