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The world's largest telecommunications network equipment provider Cisco Systems announced Thursday it is seeking Chinese partners with US$200 million.

 

"Most Chinese companies Cisco invested in are around Beijing and we hope to find more of them in west China," said Thomas Lam, president of Cisco Systems (China) Networking Technology Co. Ltd. in an interview with Xinhua in Chengdu, west China's Sichuan Province.

 

Cisco set up a venture capital fund in China three years ago, which has invested US$300 million in more than 30 innovative Chinese companies.

 

West China is Cisco's fastest growing area in China, said Lam. Cisco divides its business in China into four major bases; Beijing, Shanghai, Guangzhou and Chongqing.

 

The president said Cisco has made strategic investments in education it will continue to spend more money on education in China.

 

The American company invested in more than 200 distant-education schools in China, 14 of them in Sichuan.

 

"China is a large country of manufacturing and more of Cisco's production will go to the country," said Lam. Over 20 percent of Cisco's products are made in China.

 

Cisco reported annual sales of US$24.8 billion last year with profits of US$5.74 billion.

 

(Xinhua News Agency June 16, 2006)