China plans $14.6 bn investment in big data, cloud computing

National Development and Reform Commission has reached an agreement with a major bank in China to invest 100 billion yuan or $14.60 billion in big data, cloud computing and smart city projects over the next 5 years, Reuters reported.
ChinaChina’s state planner said its agreement with the China Development Bank (CDB) aims at heeding calls from the state cabinet for more financial support to China’s digital economy.