China Releases Report on Growing Computing Power

China Releases Report on Growing Computing Power
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According to an industry report, China has made progress in the development of computing power and is one of the best among major economies in the field. 

According to Xinhua agency, Tsinghua University, International Data Corporation and Chinese IT firm Inspur Information released a joint report that comprehensively assessed the computing power, efficiency and infrastructure of the world's 15 major economies.

The report notes that computing power has become the driving force of the digital economy, and that increasing investment in this sector will have an amplified and long-term effect on economic growth.

Infrastructure development

With the booming cloud computing, artificial intelligence, 5G and other emerging technologies, analysts believe computing power has become an important factor that will shape China's future technology landscape.

According to the National Development and Reform Commission (NDRC), China has started work on a mega project to establish eight national computing hubs in the country's economic powerhouses and less developed yet resource-rich regions, as well as 10 national data center clusters.

The move comes amid a surge in demand for computing power as the country rides the digitalization wave, but energy and land shortages are limiting data center expansion in more developed regions.

The NDRC estimates that China's demand for computing power will grow by more than 20% a year in the near future.

According to the Chinese Academy of Information and Communication Technology (CAICT), China's cloud computing market exceeded 300 billion yuan (about $47.24 billion) in 2021.

It's all going according to plan
"In the next few years, China's cloud computing market is expected to maintain an average annual growth rate of 30-40%, with the market size reaching 1 trillion yuan by 2025," 

said He Baohong, a researcher with the CAICT.

According to the five-year plan, China's digital transformation of industries will reach a new level by 2025, digital government services will become more inclusive, and the digital economy management system will markedly improve. China will also strengthen support for 6G research and development, expand innovation in strategic areas such as integrated circuits and artificial intelligence, and promote new ways of doing business. 

According to the five-year plan, by 2025, China will see the digital transformation of industries reach a new level, digital public services will become more inclusive, and the digital economy governance system will improve noticeably. China will also strengthen its support of 6G research and development, enhance innovation in strategic fields such as integrated circuits and artificial intelligence, and promote new business modes. 

Source: People’s Daily

digital markets  China 

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