Cisco CEO addresses on his China strategy
Updated: 2007-12-13 11:20
"The emerging markets are leading the future," said Cisco CEO John Chambers at the annual Asian American Multi-Technology Association (AAMA) conference on December 12 in California.
In his speech, Chambers said Cisco's recent announcement of its $16 billion investment in China has sent a new wave in sea of the China-investment by world multinationals. Its cooperation with the China Development Bank and Chinese Ministry of Education makes Cisco ride on the crest of such wave, he added.
"China is becoming the center of innovation and creativity," said Chambers. He emphasized Cisco's China vision by setting up 300 more Cisco Network Academies in addition to the existing 200 Academies which has trained 90,000 students.
Indeed Cisco's latest fund injection to Alibaba and its hefty investment in China has positioned Cisco at the center of the Middle Kingdom's technological platform.
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Hong Chen, CEO of The Hina Group, speaks at the conference. [photo by Michael Muramoto] |
Alibaba received invest $17 million from Cisco before its IPO at the Hong Kong Stock Exchange last month when the company's shares tripled on the first day of trading.
"Jack Ma was one of the early members of the Hua Yuan Science and Technology Association I founded in the Silicon Valley," said Dr. Hong Chen, founder and CEO of The Hina Group, a private investment bank, the first of its kind in China.
Being the president for AAMA during 2000 and 2001 and a successful serial entrepreneur himself, Dr. Chen said it was through such associations that new ideas were inspired and new ventures were established.
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