Cisco Systems Inc. has confirmed massive Cisco China growth plans as the technology company has said that it will be looking to make investments and partnerships in the region worth $10 billion. 

According to a report on WN, the management of Cisco Systems Inc. has announced ambitious plans of growth in the Chinese market that would involve seeking investment and making partnerships of more than ten billion dollars in the years to come. The networking gear maker confirmed the news saying that this investment would help in strengthening its position in the Chinese market, especially in lieu of the recent controversies. Cisco officially unveiled the plan when new President Chuck Robbins and his predecessor met the Chinese head and other authorities in Beijing to formulate the company's growth plans. The two things missing in Cisco's announcements were a specific time frame in which they were looking to make the investment as well as areas that they planned to target during this process, Wall Street Journal reported.

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Meanwhile, Cisco also pointed out that the plan is in tandem with the memorandum of understanding that the company shares with the Chinese planning body. These investments would be driven towards helping China achieve its long term goal of innovation driven development in the region. From his end, Robbins assured the company's Chinese stakeholders that Cisco is committed towards them. The assurance comes as a huge relief especially after the Edward Snowden controversy that shed light on the prospects of American agencies spying into China and other countries using their technology and tools.

In light of the controversy, Cisco's challenges in the Chinese business environment have clearly increased.

After the disclosure, China has clearly increased efforts to strengthen the domestic technology projects and is keen to reduce the reliance on foreign companies. Cisco also said that they had no idea about the American spying initiatives. This announcement comes in line of the major strategic changes announced by the company, recently after its sales in China slumped by a massive twenty percent. 

TagsCisco Sales slump, cisco news, cisco china, cisco shares, snowden