Li laid out China’s “Internet Plus” strategy, which includes promoting cloud computing, online banking, mobile internet, along with logistics to help e-commerce expansion, scmp.com reports. He also stressed that, besides the USD 6.4 billion (CNY 40 billion) government fund already in place for investment in China’s emerging industries, more funds need to be raised for promoting business development and innovation.
Li’s support would benefit Alibaba, the world’s largest ecommerce company, led by its founder, Jack Ma, which is already investing in cloud computing and internet finance. The Beijing-based JD.com, has seen its transactions more than treble in its online marketplace. Others companies likely to benefit include the social networking and entertainment company Tencent Holding and online search firm Baidu. Both have internet finance operations and are expanding internationally.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now