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China Sets Up $14.6 Billion Internet Investment Fund

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"China's government has established a 100 billion yuan (US$14.5 billion) state fund to invest, nurture and support internet companies and spearhead the country's technological innovations and economic transformation into the so-called 'Internet Plus' era." Xie Yu reporting in South China Morning Post: "The China Internet Investment Fund, launched in Beijing on Sunday, was cobbled together with funding from state-owned banks and companies, with oversight by the Cyberspace Administration of China (CAC) and the Ministry of Finance… The fund will be used to invest in equity stakes among China's internet companies to make them 'bigger and stronger,'… also aimed at facilitating Premier Li Keqiang's Internet Plus strategy to invigorate the Chinese economy through applying the internet and other information technology-related innovations in conventional industries."

Related topics: Broadband, Web

 
   

Comments

Why China is the World's Internet Leader Anthony Rutkowski  –  Jan 23, 2017 3:06 PM PDT

This announcement stands in stark contrast to what has occurred in the U.S. which is engaging in the opposite action - essentially eliminating all leadership roles - Internet or otherwise.  China has put its money where its mouth is in investing in innovation and infrastructure, in inclusion of everyone, and its global leadership and outreach in essentially every venue. 

You can go to the most remote mountain valleys in China and get good Internet connectivity.  You may not be able to get to some media outlets and search capabilities, but there is excellent service for almost everything else, and inclusion is facilitated.

If Sally Shipman at ISOC wants to know what the Internet (or more precisely 5G and NFV-SDN and MEC) will look like in 10 years, she should examine what China is doing and read Jack Ma's advocacy and admonitions. 

Trump instead is leading the U.S. to ruin - putting up walls and destroying the foundations for global trade, playing the global bully boy - somehow pandering to the Rust Belt left behind 20 years ago for nothing more than power and money for friends and family.  Ma has the fortitude to speak out against Trump; while Silicon Valley executives with heads bowed in supplication parade to Trump Tower in the hopes of garnering favor with a ludicrous clown.

Hurray for China's wise leadership in the face of U.S. shame.

Why are there no other comments here?

This is HUGE. As China continues Steven Koltai  –  Jan 24, 2017 9:36 AM PDT

This is HUGE.  As China continues to establish itself as the cutting edge global economic player, many others, including for domestic AND international purposes, could learn the importance of ECOSYSTEM development like this.  Very striking

China and Singapore have a history of Internet investment Larry Press  –  Jan 24, 2017 9:57 AM PDT

The Chinese goverment has invested in Internet infrastructure from the start:
https://www.isoc.org/inet99/proceedings/3a/3a_3.htm

The government of Singapore has made equity investments in Internet and other key industries for years: http://cis471.blogspot.com/search/label/singapore

It is not a coincidence that many political and industrial leaders in Singapore are Chinese.

Maybe China can host U.S. Federal Freedom site Anthony Rutkowski  –  Jan 24, 2017 6:17 PM PDT

With Tyrant Trump issuing an edict to shut down the communications of some U.S. Federal agencies and employees with the public, perhaps China can also come to their aid. Mirror sites for U.S. Federal agencies and protected communication channels could help break the U.S. Internet blockade.  Would be great move for China in its new global leadership role.

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