Cisco Systems will set up its first research center in the China. "China will become the IT center of the world," Cisco's CEO Chambers told a Beijing news conference Thursday.

The company would invest $32 million over five years in a research center in Shanghai. The facility will hire 100 employees over the next 18 months, and investigate new voice technologies.

"What we are announcing today is the first of many steps we will take in research and development" in China, Chambers said.

By: DocMemory
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