With seven strategic emerging industries set to receive USD787 billion of central government investment by 2020, China is on course to be a major technology player.
Cloud is high on the agenda, with five designated pilot ‘cloud cities’ and a number of leading edge projects. According to the Asia Cloud Computing Association, the Chinese government plans to invest USD154 billion to boost the cloud industry over the next few years, encouraging both local and foreign investors.
Demand for mobile payments in China also continues to increase, with transactions projected to reach USD80 billion from 440 million users by 2015.
- Egidio Zarrella, Clients and Innovation Partner, KPMG in China