(iChinaStock News) Chinese Internet companies including Baidu Inc (NASDAQ: BIDU), Alibaba Group and Tencent have received millions of government subsidy in cloud computing, according to a report from Chinese media.
The report said the the National Development and Reform Commission(NDRC), the Ministry of Industry and Information Technology(MIIT) and the Ministry of Finance have decided to give a total of RMB 1.5 billion subsidy to companies that made technology breakthroughs in cloud computing.
It also said Baidu is the biggest winner among all companies, receiving more than 100 million alone from the government.
iChinaStock did not find any related information on government websites today.
Cloud computing is one of the major “strategic” technologies that encouraged by the Chinese government. China has established two major cloud computing technology industrial parks in Beijing and Shanghai, attracting billions of investments.
By Vincent Wang, iChinaStock.com
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