1970-01-01 08:33:27
Cisco’s venture capital investment has reached US$700 million in China and it will expand investment in its Shanghai-based research center, the US-based network equipment provider said yesterday.
Twenty-five percent of Cisco's equipment are now manufactured in China by 54 domestic contract producers, mainly in the Yangtze River Delta, the Pearl River Delta and northern China, according to Patrick Shao, Cisco East China's general manager.
"The revenue growth comes from other business sectors besides routers, and the Olympic Games also brings us opportunities," Shao said.
Cisco signed deals valued more than US$100 million from three Chinese firms during a Chinese delegation's visit to the United States two weeks ago. Cisco will provide China Mobile, China Netcom and China Construction Bank the network upgrade or database improvement service.
Meanwhile, Cisco secured an IT deal from Shanghai Pudong International Airport, Shao added. In 2005, Cisco announced it would invest US$32 million to create a local research center with 250 engineers within five years. Now the center recruits 400 engineers and the number will rise to 700 by the end of this year.
Source:Shanghai Daily