ChinathisyearunveiledtheInternetPlusstrategytokickoffaBigDatarevolutionandboosteconomicoutputthroughnewinvestmentsinthee-commercesector.Theinitiativewillalsoshapethe13thfive-yearplanhammeredoutattheCPCplenuminBeijing.
OneofthebuzzwordsthathasmadeheadlinesinChinain2015isInternetPlus.
Earlierthisyear,ChinalaidouttheInternetPlusstrategy,whichincludespromotingcloudcomputing,onlinebanking,andmobileinternettohelpe-commerceexpansionandupgradethefinancialindustry.
“IthinkthatInternetPluswillbecomemoreandmoreimportantinChina,especiallyinthetransformationandupgradeofthebankingindustry.Duringthisprocess,InternetPluswillalsogreatlytransformthecreditsystem,”saidZongLiang,vicegeneralmanagerofBankofChina.
Chinahasalreadysetaside40billionyuan-ormorethan6billionUSdollars-ingovernmentfundsforChina’semergingindustries.
PremierLiKeqiangsaidthatChinawillbacke-commercedevelopmentandguidetheinternationalexpansionbyChineseinternetcompanies.
Thiswillgivefirmssuchase-commercegiantAlibabaGrouporitsrivalJD.comamajorboost.AttheFinancialStreetForuminBeijingthisweek,thelattersaid:
“BecauseoftheInternetPlusstrategy,ourfinancialproductsindatamining,riskmanagementandconfigurationhavebecomemuchmoreefficient.Forfinancialenterprises,ithelpsalottoboostourdiversification,”saidLiuChangjong,VPofJingdongFinancialGroup.
TheInternetPlusstrategywillalsofigurehighinthe13thfive-yearplanunveiledbytheCommunistPartyofChinaonThursday,whichsetsthedirectionoftheeconomicandsocialdevelopmentfortheyearsfrom2016to2020.
ChinacouldsoonsurpasstheUnitedStatestobecomethelargestInternetmarketintheworld.
Chinahad649millioninternetusersbytheendof2014,risingby31millionfromthepreviousyear,officialfiguresshow.
Thecountry’shouseholdinternetpenetrationratestandsat47.9percent,comparedto74.4percentintheUnitedStatesin2013.
BankersandanalystsI’vebeentalkingtoherearebullishthatduringthenext5-yearplan,theInternetPlusstrategywillbecomeaneweconomicmodelanddriverforChina’seconomy.
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