China’s Cloud Computing Industry Booms: Market Growth and Global Expansion
China’s cloud computing industry is experiencing unprecedented growth, paving the way for a technological transformation in various sectors. Recent reports have highlighted the remarkable advancements made by the country in the field of information technology, particularly in cloud computing.
In the first half of this year, China’s cloud computing market witnessed a staggering year-on-year increase of over 40 percent, surpassing a value of 260 billion yuan (approximately $35.6 billion). This substantial growth can be attributed to the increased investments made by major telecommunications, technology, and Internet companies in the industry, as well as their expansion into international markets.
The China Academy of Information and Communications Technology (CAICT) released a white paper in July projecting that the cloud computing market in China will exceed 610 billion yuan ($83.5 billion) by the end of 2020. These figures suggest a tremendous and sustained growth trajectory for the industry.
Furthermore, data revealed that the combined revenue from cloud-related businesses for China’s three major telecom operators during the first half of the year reached an impressive 113.6 billion yuan (approximately $15.6 billion). Remarkably, this amount accounted for nearly 80 percent of the operators’ total revenue from the previous year, all achieved within just six months.
Tencent, a leading Chinese company in the cloud computing sector, has made significant strides in this field over the past few years. Tang Daosheng, the Senior Executive Vice President at Tencent, highlighted the substantial increase in demand for digital tools and artificial intelligence. He mentioned that many of their cloud products have witnessed double-digit growth in the international market. Tencent has successfully provided its cloud technical services in several countries and regions, including Singapore, Indonesia, and the United States.
The growth of China’s cloud computing industry is a testament to the country’s commitment to technological innovation and its position as a global tech leader. With its remarkable market growth and expansion into the international market, China is well-positioned to shape the future of cloud computing and drive the development of intelligent technologies.
This article was generated based on information from the Ministry of Industry and Information Technology, the China Academy of Information and Communications Technology (CAICT), and relevant industry reports.
Sources:
1. Ministry of Industry and Information Technology
2. China Academy of Information and Communications Technology (CAICT)
3. Tencent
