Asia’s largest spender in technologyChina’s top 100 internet companies have increased their investment in research and development (R&D) activities, spending 153.87 billion yuan (US$21.85 billion) last year. This marks the highest collective spend by the group, to date, and a 45.1% climb from 2017, according to stats released by the Internet Society of China, which is affiliated with the Ministry of Industry and Information Technology (MIIT). On average, the country’s top 100 internet companies 10% of their revenue for R&D, with four in the pack slicing off 30% to 35% for such initiatives, reported state-run media China Daily. Led by Alibaba Group, the group includes Tencent and Baidu–which are second and third, respectively–but also comprises Alibaba’s subsidiary Ant Financial. Alibaba takes more cloud products global, eyes APAC growth Chinese internet giant talks up new product releases such as Anti-Bot Service and its datacentre footprint in Asia-Pacific as key differentiators against cloud rivals, Amazon Web Services and Google. Its machine learning specialist also urges need for governments looking to build smart cities, such as Singapore, to ensure its citizens benefit from such initiatives. Read More Together, the top 100 have secured almost 80,000 patents. These companies are assessed based on various criteria including revenue, profit, innovation, social influence, and corporate responsibility. Jiao Xulu, who is an official with the MIIT, said local internet companies showed “intensified efforts” in driving innovation and were emerging in areas such as cloud computing, big data, and artificial intelligence (AI). Chief engineer at the ministry Zhang… [Read full story]
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