CITIC Group, a state-owned Chinese conglomerate, has announced its entry into the cloud and big data market.

CITIC said that the current boom in demand in terms of cloud and big data services is a big opportunity for the company to capitalize on, especially as China is viewed by many analysts as the biggest tech market in the world.

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CITIC Group's entry into the cloud and big data market also marks a significant shift by the company towards Internet-related businesses. The move is also in line with China's "Internet Plus" policy.

CITIC Group has created a new firm called CITC Industrial Cloud. This new division would handle all of the conglomerate's cloud, big data, and other related businesses. It would also handle the research, development, and operations of the conglomerate's Internet-related businesses. The new subsidiary is also expected to provide the necessary technical support and services to all of the conglomerate's affiliated businesses and clients.

Instead of creating its own Cloud infrastructure, CITIC Industrial Cloud would rely on third-party services and act as a sort of intermediary between its affiliated cloud service providers and its clients. The first batch of cloud service providers to join the platform are Alibaba Cloud, Yongyou, China Entecom, Knownsec, Tencent, and CITIC Application Service Provider Co.

In terms of software development, the creation of big data platforms, and information security, CITIC Group is tapping the services of IT service provider AsiaInfo, and software company Global InfoTech.

According to Tech Node, CITIC is planning to fully digitize the business of its customers and other subsidiaries. Aside from its cloud service subsidiary, CITIC is also planning to expand its digital business to include a cloud platform for software development, and big data analysis.

Tagscitic, citic group, Cloud, Big Data, Cloud computing, citic industrial cloud