BEIJING, May 8, 2009 - Cisco today announced that it enhanced several cooperative relationships in China by signing framework agreements with China Telecom, China Mobile and China Construction Bank at the China-U.S. Strategic Economic Dialogue held in Washington on April 27. The agreements were signed during a visit to the US by the China Mission for the Promotion of Trade, Investment & Cooperation in Electronic & Mechanic Industry's visit to the U.S. The delegation was led by Minister of Commerce Chen Deming and Vice Minister Ma Xiuhong. Under these framework agreements, Cisco and these leading companies will explore areas of collaboration, and the companies will consider procurement of advanced data network equipment and services from Cisco.
"In the face of a challenging macro-economic environment, our commitment to China remains unchanged," said Owen Chan, president of Cisco Asia Pacific Operations. "We are highly honored to be one of the main companies involved in this round of China-U.S. economic cooperation, and these agreements are a testament to our commitment to and confidence in the country. Close collaboration with these important customers is aligned with Cisco's focus on creating win-win situations with local industry."
John Ng, managing director for service provider operations, Cisco China, who represented Cisco at the signing ceremony in Washington, welcomed the developments: "Our long-term relationships are a priority. These agreements deepen our cooperative relationships and commitment to our China customers, with Cisco providing world-leading technology, products, network solutions, and globally proven best practices."
Since entering China in 1994, Cisco has been actively engaged in the development of China's IT industry. Today, as China's innovation economy accelerates, Cisco is fully committed to supporting this market transition. As a responsible long-term partner, Cisco is also committed to aligning with the country's development goals and contributing to China's economic development and to the building of a harmonious society. With the series of agreements signed with China Telecom, China Mobile and China Construction Bank, Cisco's development in China has into a reached a new phase in which Cisco will work to support the long-term development of Chinese society and industry.
In alignment with the China market's strategic position in Cisco's global operations, as well as Cisco's multiyear US$16 billion commitment to China, the company recently unveiled its new 'Cultivated Innovation Model', which will help stimulate local innovation through capital, technology, process management, resource incubation, leadership cultivation and other investments.
Cisco has made a series of strategic moves in China recently that include the Green Tech Lab launched with China's renowned Tsinghua University and the planned establishment of a Supply Chain Institute with Fudan University in Shanghai. This series of measures further underlines Cisco's development strategy in China, which is focused on stimulating innovation, win-win cooperation, and leadership cultivation.