financetom
Technology
financetom
/
Technology
/
China invests $6.1 bln in computing data center project, official says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China invests $6.1 bln in computing data center project, official says
Sep 1, 2024 12:50 AM

BEIJING, Aug 29 (Reuters) - China has invested over 43.5

billion yuan ($6.12 billion) in a nationwide project to build

computing data centers over the past years, a senior government

official said on Thursday, amid tech export restrictions from

the United States.

Liu Liehong, head of China's National Data Bureau, disclosed

the figure, which is current as of end-June, at an industry

conference in the southwestern city of Guiyang, state news

agency Xinhua reported.

Beijing officially launched the initiative, dubbed "Eastern

Data, Western Computing", in early 2022 as part of President Xi

Jinping's push to build a "digital China".

China's massive investment in computing comes as it faces

increasing restrictions from the United States, which has

limited exports of some advanced computing products, including

those from industry leader Nvidia ( NVDA ) in recent years.

In response, China has been ramping up efforts to develop

its own advanced computing capabilities.

The "Eastern Data, Western Computing" project includes plans

to construct eight major data center hubs, primarily located in

the western regions. This strategy aims to utilize the abundant

energy resources in the west and transfer computing power to the

economic hubs along the coast.

Beyond direct government spending, Beijing has also sought

to attract other types of investment, including private capital.

The eight data center hubs have drawn more than 200 billion

yuan in total investment, Liu said.

He added that the project has installed over 1.95 million

server racks, with about 63% of them currently in use.

($1 = 7.1122 Chinese yuan renminbi)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
TORM plc Q1 2026 Results, Dividend Distribution, and Financial Outlook 2026
TORM plc Q1 2026 Results, Dividend Distribution, and Financial Outlook 2026
May 13, 2026
HELLERUP, Denmark, May 13, 2026 /PRNewswire/ -- INSIDE INFORMATION TORM ( TRMD ) delivered a strong quarter supported by high freight rates, consistent execution, and our One TORM platform, said Jacob Meldgaard, adding: Rates rose to record levels in April, prompting an upward revision of our full-year guidance while continuing to monitor global developments. We also invested selectively in fleet...
GCL SI's Newly Launched EcoPower Mate Mobile PV Storage Solution to Debut at SNEC 2026
GCL SI's Newly Launched EcoPower Mate Mobile PV Storage Solution to Debut at SNEC 2026
May 13, 2026
SUZHOU, China, May 13, 2026 /PRNewswire/ -- GCL System Integration Technology Co. Ltd (hereafter referred to as GCL SI) announced that its newly launched EcoPower Mate mobile PV storage solution will make its first public appearance at the 19th SNEC International Photovoltaic Power Generation and Smart Energy Conference & Exhibition (SNEC 2026), taking place at the National Exhibition and Convention...
EVA AIR SELECTS PANASONIC AVIONICS' ARC™ 3D IN-FLIGHT MAP PLATFORM FOR ITS A350 FLEET
EVA AIR SELECTS PANASONIC AVIONICS' ARC™ 3D IN-FLIGHT MAP PLATFORM FOR ITS A350 FLEET
May 13, 2026
IRVINE, Calif., May 13, 2026 /PRNewswire/ -- Panasonic Avionics Corporation (Panasonic Avionics), the world's leading supplier of in-flight engagement and connectivity (IFEC) solutions, has been selected by EVA Air to install Arc™, its award-winning 3D in-flight map platform, across its Boeing 787, 777-300ER, and their upcoming Airbus A350-1000 fleet. As the first airline in Taiwan to launch Panasonic Avionics' Arc 3D...
Ericsson to utilize mandate to transfer shares
Ericsson to utilize mandate to transfer shares
May 13, 2026
STOCKHOLM, May 13, 2026 /PRNewswire/ -- In conjunction with the delivery of vested shares under the long-term variable compensation program I and II 2023 (LTV I and II 2023), Ericsson's (NASDAQ: ERIC) annual general meeting on March 31, 2026 authorized the company to retain and sell no more than 70% of LTV I and II 2023 shares of series B...
Copyright 2023-2026 - www.financetom.com All Rights Reserved