Domestic market full of potential, Cisco boss says

The Chinese market will continue to create significant and exciting opportunities for foreign companies, as the country strives to use technology to drive digital transformation amid the COVID-19 pandemic, said a leading multinational official on Wednesday.

Chuck Robbins, chairman and CEO of US telecommunication company Cisco Systems, said that despite all the uncertainties, the company will "stay deeply focused in China", as it sees unique opportunities in the country.

The remarks were made at the World Internet Conference Wuzhen Summit that kicked off in Zhejiang province on Wednesday.

"We are confident that the Chinese market will continue to create significant and exciting opportunities, as the country advances toward its high-quality development goals and uses technology to transform the post-pandemic world," Robbins said.

He pointed out that now more than ever, the world is aware of the importance of technology and innovation in keeping connected, secure and productive, due to a global pandemic, supply chain issues, inflation, social and political unrest, and extreme climate events.

"With rich experience in compliance risks, regional differences and stable supply chains, Cisco is proud of our work with China in building more stable and reliable systems and IT capabilities that empower their businesses overseas," he said.

"The company is committed to making investments in China's digital economy and sustainability efforts," he added.

In addition, Robbins said that the great potential of the country's small and medium-sized enterprises also enlightens the US firm.

"We see great potential particularly in China's SME business, which is positioned to become a driving force for economic growth. We will continue to help in the digital transformation of Chinese enterprises," he said.

As the 20th National Congress of the Communist Party of China ended last month in Beijing, Robbins said that it marks a new chapter in China's modernization and that technology will play a more critical role than ever before.

"The company remains deeply committed to being a partner to Chinese businesses and communities and we will continue to do all that we can to be a model for constructive US-China cooperation," he said.

"The global economy will be stronger with the US and China working together, and that stable US-China relation will bring mutual benefits not just to our countries, but to the entire world," he added.

Speaking via video at the WIC, Robbins also noted that the conference continues to be a valuable platform that brings together the Chinese and international governments and business leaders around the globe to share ideas on innovation, technology development and internet governance.