China's financial cloud market maintains sound growth in H1: report

Source: Xinhua| 2020-11-21 11:51:41|Editor: huaxia

BEIJING, Nov. 21 (Xinhua) -- China's financial cloud market has maintained sound growth in the first half of the year (H1) despite the impact of COVID-19, data from an industrial report showed.

The scale of the country's financial cloud market reached 1.91 billion U.S. dollars in H1, up 37.5 percent year on year, according to the global market intelligence firm International Data Corporation (IDC).

In breakdown, the cloud solution market grew 42.1 percent year on year to 570 million U.S. dollars during the period, while the cloud infrastructure market expanded 35.6 percent to 1.34 billion U.S. dollars, data from the IDC showed.

Against the background of the rise of contactless finance, financial institutions have accelerated the construction of online business systems, continuously injecting impetus into the financial cloud market, said Eric Wei, a research manager with IDC China. Enditem