Siemens AG has announced its acquiring of a majority stake in a leading Chinese wireline network equipment supplier and pledged to further increase its investment in China, reported Monday's China Daily.

With the acquisition, Siemens has increased its share in the Beijing International Switching System Co Ltd (BISC), Siemens' very first manufacturing joint venture established in China in 1990, from 40% to 67%. In the future, the joint venture will be doing business as Siemens Communication Networks Beijing (SCNB).

In conjunction with the acquisition, Siemens announced further investment in the company to triple the research and development (R&D) workforce of SCNB to 300 in the coming months.