On September 23 (local time), when Xi Jinping visited U.S., Inspur and Cisco signed the strategic cooperation framework agreement on the 8th Sino-US Internet Forum. In accordance with the agreement, both parties will jointly make the initial investment of USD 100 million in establishment of a joint venture company in China, so as to jointly develop network technology and products, create world-class information technology and schemes, provide advanced technology, products, solutions and services for information infrastructures, cloud centers, smart cities and big data and other fields. Investment of Cisco in the joint venture company is the beginning of the commitments of USD 10 billion investment in China which were announced this June. Lu Wei, head of National Internet Information Office of China, witnessed the signing of this contract.
President Xi Jinping and Inspur president Sun pishu on the 8th Sino-US Internet Forum
Inspur and Cisco sign the strategic cooperation framework agreement
In accordance with the agreement, Inspur will have 51% shareholding in the joint venture company, while Cisco will have 49%. The scope of cooperation between both parties mainly covers products and technologies of network, data centers, cloud service, internet of things and other fields. The joint venture will develop and manufacture series of products which satisfy customer demands and include high-end products, based on advanced and preponderant technology jointly owned by Cisco and Inspur.
The cooperation between Inspur and Cisco is greatly supported by the Government of China, against the background of all-round deepened reform, open innovation, adherence to introduction of foreign investment and foreign technology, promotion of Sino-US mutual trust and cooperation in cyber space in China. The cooperation between first-class enterprises of China and America favors the benefits of Sino-US, helps create a new model of Sino-US enterprise cooperation, will provide proprietary and high-level products and solutions for informationization construction of China, and helps create safe and reliable information infrastructures. Meanwhile, it brings a new vitality to the information industry of China, optimizes the industry, and enhances the overall competitiveness of the industry.