Cisco Announces $16B China Expansion

November 1st, 2007 in Technology / Business
Cisco Announces $16B China Expansion (AP)

Cisco Chief Executive John Chambers, right, toasts a champagne with Jack Ma, chairman and CEO of Alibaba Group after witnessing a joint ventures partnership signing agreement at a hotel in Beijing, China, Thursday, Nov. 1, 2007. Network gear maker Cisco Systems Inc. on Thursday announced a multi-year, US$16 billion (euro11.1 billion) series of initiatives to expand in China with investments in manufacturing, venture capital and education efforts. Chambers said the ventures include a partnership with Alibaba Group, China's biggest online commerce company, to develop business services for small and medium-sized companies. (AP Photo/Andy Wong)

(AP) -- Network gear maker Cisco Systems Inc. unveiled a multiyear, $16 billion expansion in China on Thursday with investments in manufacturing, venture capital and education.

Content from The Associated Press expires 15 days after original publication date. For more information about The Associated Press, please visit www.ap.org .