Cisco inks development deal with Chinese government

Networking giant Cisco has announced new collaboration deals with the Chinese public sector as it aims to strengthen its foot-hold in the world's fastest growing economy.

The deals will see Cisco and the Chinese government working together on IT research and development, education, procurement, investment and training.

"Cisco's public-private collaboration within China not only helps accelerate these business efforts, but also helps the 1.3 billion people and growing number of entrepreneurs within the country gain access to social and economic opportunities afforded by the internet," said Cisco chief executive John Chambers.

The company has also signed a memorandum of understanding with China's Ministry of Commerce to help Chinese businesseses develop IT and business-process outsourcing.

And the Peking University in Beijing will see $20m (£10m) investment from the company over the next five years to help create a leadership training insititute.

Cisco today appointed Jim Sherriff, senior vice president of global operations, to the newly created position of chairman of Cisco China.