China’s state-owned conglomerate CITIC Group announced last week the establishment of a cloud and big data service subsidiary to fully capitalize on the ongoing internet boom in the country (link in Chinese). This marks CITIC’s shift in focus to internet-related businesses in line with the country’s “Internet Plus” policy.

The new firm, dubbed CITIC Industrial Cloud, is focused on platform development, operations, as well as pushing innovation and entrepreneurship, according to a company statement. Based on a market-oriented operation model, the subsidiary is expected to provide technical support and services to the group’s affiliated companies as well as other clients.

As a cloud service broker, the firm’s basic cloud infrastructure platform is a third-party service that acts as an intermediary between providers and purchasers of cloud computing services. The first batch of cloud service providers on the platform includes Alibaba Cloud, Tencent, Yongyou, Knownsec, China Entercom and CITIC Application Service Provider Co., Ltd.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.