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| Cisco Underscores Continued Commitment to China | |
| Posted: Mon Jan 19, 2009 09:41:00 AM | |
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Company Updates China Strategy with a Focus on Innovation, Partnership and Leadership Development BEIJING - January 13, 2009 - Underscoring the strategic importance of China to its global operations, and reaffirming the company's determination to deliver on its US$16 billion multiyear investment, Cisco today expressed its continuing confidence in and commitment to China. Jim Sherriff, chairman and CEO, Cisco China, giving a keynote speech on Cisco China strategy. Jim Sherriff, chairman and CEO, Cisco China, giving a keynote speech on Cisco China strategy. In an update to its corporate strategy and achievements to date, the company outlined its plans to focus on innovation, partnership, leadership development and collaboration as it aims to become a truly local company in the world's most populous nation. Over the course of 2008, Cisco made a number of significant inroads in China, whilst delivering on its US$16 billion multiyear investment program which includes new projects with local industry and academic institutions. "Despite the challenging economic environment, our commitment to China remains unchanged," said Jim Sherriff, chairman and chief executive officer, Cisco China. "As China accelerates the development of its innovation based economy, we are absolutely committed to supporting this transformational effort in 2009 and beyond." From Cisco China to China Cisco According to Sherriff, Cisco is determined to build a company as committed to China as its domestic counterparts, a key element of Cisco's future strategy. "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. Cisco has long been taking concrete steps to globalize its operations. Establishing a larger, more comprehensive and unified presence in China, one that uses all of our resources, is part of our globalization plan and in lock-step with this country's own development path," added Sherriff. Innovation, Partnership and Leadership Development Underpinning Cisco's China strategy for the future are three main areas - Innovation, Partnership, and Leadership - where Cisco has a proven track record working closely with industry and academia. * Innovation through Empowerment: With a history of more than two decades of innovation, Cisco will focus on delivering innovative Web 2.0 technologies that enable new business models for its customers and partners in China. Cisco also plays an active role in China's innovation drive through localized product offerings and joint research and venture investment. To date, Cisco has made investments in more than 50 Chinese companies directly or indirectly. Over the course of 2009, creating new products for Chinese companies and new business models through Web 2.0 technology will be a key priority for the company. To that end, Cisco will expand its product offerings, promote market solutions for small and medium-sized businesses, build a green technology center in Shanghai and continue to invest in local entrepreneurship and innovation. * Partnership: Cisco will continue to build on its well-established relationships in China. Projects already under way include agreements signed with the National Development and Reform Commission, the Ministry of Commerce, and the Ministry of Education. These focus on education, R&D;, manufacturing, leadership training, healthcare and investment to support the country's economic development, globalization drive and the building of a harmonious society. In 2009 Cisco will establish joint programs with institutes and universities to conduct research into next-generation Internet applications, green technology, and other innovations. The company will continue to deliver on its previously announced RMB300 million ($45 million) relief, recovery and sustainability efforts in Sichuan following the Wenchuan earthquake. The project, named "Connecting Sichuan," will help develop 21st-century (21C) education and healthcare models enabled by collaborative networked information technology and communications. As of December 2008, the project had already resulted in the establishment of three state-of the-art 21C schools. In the coming year, Cisco also plans to open 140 new Cisco Networking AcademyŽ institutions throughout China to provide information communication technology (ICT) skills to students. Today, there are more than 250 networking academies in China that have trained more than 100,000 students. By 2010, this will have grown to 500 networking academies which will train an additional 100,000 students. * Leadership Development: Cisco is working with higher learning institutions and industry partners to develop strong executive leadership talent for Chinese industry and for the future global economy. In 2009, the Guanghua Cisco Leadership Institute in the renowned Peking University will be opened to support both the public and private sectors. Also in 2009, the Supply Chain Institute, the first of its kind for Cisco in China, will offer learning and development for managers of Chinese manufacturing companies enhancing their capabilities to perform on a global scale. 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