Cisco Creates VC Fund with USD700mn in China
(SinoCast Via Thomson Dialog NewsEdge) SHENZHEN, Apr 13, 2007 (SinoCast via COMTEX) --Beijing-based Cisco Systems (China) Networking Technology Co., Ltd., a leading Internet equipment provider, has created a venture capital fund with USD 700 million in China for sponsoring 40 new local companies, 4 of which are in Shenzhen.
Cisco China announced yesterday it would set up a new representative office in Shenzhen for seeking more business opportunities in South China.
Zhang Sihua (pronounced in Chinese), vice president of Cisco China and general manager of Cisco South China, remarks that the application for registration of new technologies by small- and medium-sized companies is more frequent and faster nowadays. Promotion of their informatization is the main business for Cisco China.
Zhang says that South China's contribution to Cisco China's business has increased. Moreover, Hong Kong clients of Cisco China frequently invest in South China. So Cisco China is going to combine its business in Hong Kong and South China.
Cisco China has founded Cisco Network academies in 10 higher learning institutes in Guangdong to meet the surging demand for talents of informational technology.
Cisco China will put more investments in Chinese network and communication industries.
From homeway.com, Page 1, Thursday, April 12, 2007
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