CHINA Tencent to invest 500 bln yuan on new infrastructure in next 5 years

CHINA

Tencent to invest 500 bln yuan on new infrastructure in next 5 years

Xinhua

18:56, May 31, 2020

de27e27e-ebcd-4c2b-8ef5-a3790d028417.jpg

File photo: CGTN

BEIJING, May 31 (Xinhua) -- China's tech giant Tencent announced it will invest 500 billion yuan (about 70.11 billion U.S. dollars) in the next 5 years to develop new infrastructure across the country.

The funds will be mainly invested in cloud computing, artificial intelligence, blockchain, supercomputer center, quantum computing and data center, said Tang Daosheng, senior executive vice president of Tencent.

To spur the innovation of industrial technologies, the firm will also strengthen the development of industrial internet base, innovation center and industrial parks, he said.

The Shenzhen-based enterprise will fully leverage resources from leading experts and laboratories and collaborate with top universities at home and abroad to establish research platforms while enhancing industrial research and talent cultivation.

Tang called for joint efforts by online and traditional businesses, government departments, research institutions, nonprofit organizations and users to build a community of digital ecology in a bid to put the industrial internet sector into the fast lane.

China has pledged fresh efforts to advance the construction of new infrastructure including next-generation information networks and 5G applications, according to an annual government work report. 

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue