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Cisco draws up big plan for China
By Li Weitao (China Daily)
Updated: 2008-04-17 09:29 To capitalize on the networking boom, Chambers said the firm has formed the Cisco China Strategy Board, a cross-functional executive board of senior leaders across the company's global business, which could better allocate and utilize its global resources to boost its China operations. That marks the biggest shift in Cisco's corporate strategy since its entry into the country in 1994, and underlines the growing aggressiveness of US majors in expanding in China at a time when their domestic operations face a slowing US economy. General Electric, the world's biggest industrial company, was quoted by Financial Times on Tuesday as saying it will invest $2 billion in the country to double its sales in China, after announcing its worst quarter of financial results in five years last week. In its last earnings report, Cisco warned of a rapid slowdown in US and European orders. But "one of the key drivers of Cisco's differentiated strategy is our ability to capture market transitions", Chambers said. Cisco yesterday also announced an investment of $20 million to set up a leadership institute, partnering with Peking University, to train business leaders and senior officials for ministries such as the NDRC. Today it will sign a deal with the Ministry of Commerce to help train employees in China's BPO (business process outsourcing) industry. Chambers said Cisco will transfer some of its global business process services to China over the next three to five years. (For more biz stories, please visit Industries)
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