U.S. tech firm Cisco to invest $10 billion in China expansion

Cisco (CSCO.O) plans to invest more than $10 billion in China along with local business partners over the next several years, the U.S. network equipment maker said on Wednesday, as it seeks to shore up its position against strong domestic rivals. Cisco, the world's biggest maker of switching equipment and routers that run the Internet, announced the investment plans following high-level meetings between top executives and Chinese Vice Premier Wang Yang and other government agency leaders. A statement issued by the Silicon Valley company provided the broad outlines of how it planned to invest but did not detail any specific spending or timelines for doing so.

U.S. tech firm Cisco to invest $10 billion in China expansion source: http://finance.yahoo.com/news/u-tech-firm-cisco-invest-154131106.html