• Industry: Technology, Media, Telecommunications
  • Type: Survey report
  • Date: 9/4/2012

China sets its sights on tech dominance 

China’s 12th Five-Year Plan aims to accelerate the transformation of the economy towards services and scientific development.

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.

“The Chinese government is offering incentives, including tax holidays for select industries such as software and integrated circuit companies, and tax breaks for research-intensive businesses.”

- Egidio Zarrella, Clients and Innovation Partner, KPMG in China


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