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China invests in cloud computing research

The Chinese government has allocated 660 million yuan (103.6 million U.S. dollars) in order to boost the development of cloud computing researches.
It’s the first time such funds have been allocated and they have been assigned to 15 cloud computing programs (including internet giants Alibaba and Baidu, Shanghai East-China Computer Co. Ltd and Beijing Teamsun Technology Co. Ltd) which are based in five cloud-computing pilot cities (Beijing, Shanghai, Shenzhen, Hangzhou and Wuxi).
During the five-year (2011-2015) assessment period the National Development and Reform Commission will follow and evaluate the projects, while China’s Ministry of Industry and Information Technology (MIIT) has already drafted a framework document on the development of cloud computing during this period.
Effects of new technology will be seen by the end of the timeframe, but its large-scale application won’t emerge till the following period (2016-2020).
Over the next five years Orient Securities estimate the cloud computing sector in China could be worth 750 billion to 1 trillion yuan, about 15 percent of the value of strategic emerging industries.

660 mln yuan injected into cloud computing research in China

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