China's cloud computing industry projected to reach over 300b yuan

The size of China's cloud computing industry is expected to exceed 300 billion yuan ($42 billion) in 2023, according to a white paper released by the Institute of International Technology and Economy (IITE).

The document predicts that China's enterprise and government cloud adoption rate will be over 60 percent with its growing demand in digital and intelligence transformation.

Currently, main users of cloud computing services in China are in fields of Internet, transportation, logistics, finance and telecommunications, the white paper said.

Last year, China's cloud computing sector scaled at 96.28 billion yuan, only around 8 percent of that in the United States, data from the paper showed.

The IITE, founded in 1985, is a non-profit research organization affiliated to the Development Research Center of China's State Council, tracking and analyzing trends in world scientific, technological and economic development.