Cisco Systems, the world's top networking equipment maker, plans to open 140 networking academy institutions in China this year, as part of its $16 billion multiyear investment commitment in the country.
The US company has already established 250 such institutions and trained more than 100,000 students. Fifty institutions were opened in 2008 alone, said Jim Sheriff, chairman and chief executive officer, Cisco China.
Cisco, which makes routers, switches and other Internet equipment, announced earlier that it would build 500 networking academies in China by 2010.
"The institutions will help prepare young Chinese students with the skills they need in the technology field," Sheriff said, without disclosing how much investment would be involved in the educational endeavor.
The education initiative is part of Cisco's China strategy unveiled yesterday. The San Jose, California-based firm said it is determined to build itself into a fully integrated local company in China.
"The central goal is to build a comprehensive operational footprint that is fully aligned with Chinese society. That means developing a tailored vision and strategy for China, a strong local management team, and local product offerings that meet the specific needs of Chinese businesses," Sheriff said yesterday.
"We want to have our identity of Cisco China changed to China Cisco," the CEO said.
In 2007, Cisco committed to invest $16 billion in China in the next few years to expand its procurement, manufacturing and research and development capacity.
It said then it was planning to increase investment in China's education sector and high-growth companies through its venture capital arm.
The multibillion-dollar investment plan, Sheriff said, is well on track and will not be distracted by the ongoing global financial turmoil.
The CEO said Cisco's business performance in the country in 2008 "is the best one in eight years", but did not elaborate.
Cisco will focus on innovation, partnership, leadership development and collaboration in China in 2009, he said.
"We have confidence in the Chinese market, in the Chinese government's response to the economic turbulence," the CEO said.
"We also have confidence in Cisco executing our strategy," he added.
(China Daily January 14, 2009)
