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Chinese Government Offers RMB 1.5 Bln in Cloud Subsidies

TechWeb, 10/19/11

China's National Development and Reform Commission (NDRC) has announced plans to establish a RMB 1.5 bln fund to support the domestic cloud computing industry. Following an inspection tour of cloud computing efforts in five cities, including Beijing, Shanghai, and Hangzhou, the NDRC selected several companies to receive funding, including Alibaba Group subsidiary Alibaba Cloud Computing ("AliCloud"), Tencent (0700.HK), Shanghai East-China Computer (600850.SH), and Chinese integrated IT service provider Teamsun (600410.SH).

The fund will eventually expand beyond RMB 1.5 bln, according to an industry source.

China's cloud computing market is estimated to have a compound annual growth rate of 28% and will reach RMB 60.68 bln in 2012.

Keywords: government support market size growth rate hardware software cloud computing NDRC

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