Cisco signs MOU with Shenzhen government
U.S.-based Cisco Systems, Inc, the world's largest supplier of networking equipment, recently signed a memorandum of understanding (MOU) with the Shenzhen municipal government to launch further cooperation in research and development (R&D), talent cultivation, leadership building and information exchange over the next three years, according to the company's statement.
Under the MOU, Cisco will invest RMB 10 billion in the city and will move its south China headquarters to Shenzhen. The company will strengthen the supply chain management in the city with support from the local government and will offer training for enterprises in Shenzhen. Through the courses, Cisco will help local firms build leadership, manage information, improve global operations and become more competitive.
In the meantime, the company will also pilot sustainable urban development in the city based on its Smart and Connected Communities initiative.
The cooperation is expected to strengthen Shenzhen's electronic information industry and help turn Shenzhen into a national innovation-oriented city.
The company earlier said it would invest US$16 billion in China in the next three to five years and enhance cooperation with colleges, growth enterprises and relevant cities in China.
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