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Agricultural Development Bank of China
Company

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

June 01, 2020


Abstract : 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.

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. Enditem

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Keyword: Tencent emerging industry

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