Shanghai to invest heavily in cloud computing

17:52, October 27, 2010      

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A cloud computing innovation center was launched in Yangpu District, Shanghai on Oct. 26, which is a substantial step toward making Shanghai an industrial base for this technology.

The center is expected to integrate four functions as an incubator, accelerator, as well as a base for headquarters and talent training for the business in this industry. It will become a core center for Shanghai and even the whole country for the industry. Cloud computing refers to combining resources from computers at different locations to carry out functions via a network.

First-comers include giants like EMC China Center of Excellence, Kaspersky, Baidu and Air-World. By the end of the 12th Five-Year Plan in 2015, the center will gather some 300 upstream and downstream enterprises in this industry and will have an output value of 15 billion yuan.

The base, which is recognized as a national innovation project, can take advantage of combining the local resources in Yangpu and the massive financial resources flocking into the cloud computing business.

In the next five years, Yangpu will invest 200 million yuan in the industry, including 100 million yuan in the construction of and subsidies for a public service platform and industrial consolidation as well as 100 million yuan as an industrial investment. A 300-million-yuan foundation will be established to support business start-ups. That will grow into a more than 1 billion yuan investment fund in the future to provide the financial engine for the cloud computing industry.

By Jia Li, People's Daily Online


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