Cisco To Spend $16 Billion To Expand In China

03/28/2008 02:45 am ET | Updated May 25, 2011

Cisco is dropping dollars like they're going out of style.

Cisco (nasdaq: CSCO - news - people ), the world's largest network equipment maker, announced Thursday morning a plan to double its investments in China through venture capital, manufacturing and education. The $16 billion expansion will take place over the next three to five years.

Chief Executive John Chambers said: "We're going to the next chapter for Cisco in China."

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