Sohu IT, 11/01/07
Cisco president and CEO John Chambers revealed plans to invest USD 16 bln in China over the next three to five years. Since 2002 Cisco has invested over USD 8.5 bln in the country.
Cisco has signed a Memorandum of Understanding with the China Development Bank on joint investments in IT technology, 'green' innovation and other key fields.
Cisco is also to partner with the Ministry of Education to establish 300 Cisco Network Technology Colleges in vocational institutions in central and western China. Cisco currently has 200 colleges in 70 Chinese cities, and has trained 90,000 students.
Cisco is also to invest approximately USD 17.5 mln in Alibaba Group subsidiary Alibaba.com Limited as part of the company's Hong Kong IPO.