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NDRC dispenses RMB 660 million in cloud subsidies

China's National Development and Reform Commission (NDRC) distributed the first batch of cloud computing industry subsidies - totalling RMB 660 million - last month to more than 10 firms involved in 15 pilot projects in Beijing, Shanghai, Shenzhen, Hangzhou, and Wuxi.

Recipients include e-commerce conglomerate Alibaba Group subsidiary AliCloud, internet giants Tencent and Baidu, Shanghai East-China Computer, and integrated IT service provider Teamsun. Alibaba and Baidu each received a subsidy of more than RMB 100 mln, while sums received by East-China, Teamsum and others ranged between RMB 15-20 mln.

Source: China Securities Journal

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