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Home >> Business
UPDATED: 18:55, December 14, 2006
Cisco invests 50 mln USD in Chinese telecom giant
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Cisco Systems, one of the world's leading internet equipment, technology and service providers, inked a strategic investment of 50 million U.S. dollars in China Communications Services Corporation Limited (CCS) on Thursday.

CCS is a Hong Kong-listed company specializing in telecommunications services and support in China's telecoms market. Its shareholders include China Telecom Group, China Mobile and China Unicom.

According to the contract, Cisco and CCS will jointly provide telecommunications services commissioned by Chinese enterprises, such as network operation and management.

Additionally, the two companies will provide customers with new network solutions, including IP infrastructures, digital video, and 3G platforms and applications.

"We are pleased to be working with Cisco to bring advanced telecommunications services to corporate customers in China," said Li Ping, Chief Executive Officer of CCS.

Cisco has already invested over 700 million U.S. dollars in venture funding to help launch around 30 Chinese start-up companies such as the on-line gaming company Shanda.

Source: Xinhua

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