Inspur to offer fintech services along Belt and Road
November 8, 2017 Category China News Round-up, Weekly
Inspur, China’s largest server maker, is partnering with four global IT companies – Cisco, IBM, Ericsson, and Diebold Nixdorf – to form a strategic digital economy alliance for the country’s “Belt and Road Initiative”, aimed at providing data centers and fintech-related services in economies along the trade route. The alliance, initiated by Inspur, will receive state funding and support from China’s National Development Bank (NDB), the Export-Import Bank of China, and China Export and Credit Insurance Corp. Its goal is to provide tech and financial solutions, including big data, cloud computing, and fintech-related services, said Sun Pishu, Inspur’s Chairman and CEO.
“We hope the partnership with these top global tech firms and state-level financial organizations will help Belt and Road countries solve fund shortages and technology bottlenecks,” he said. The Belt and Road Initiative – proposed by Chinese President Xi Jinping – plans to rekindle the historic Silk Road trading routes and create a blueprint for future global economic development. The routes go through around 60 countries and regions from Asia to Europe, and also include Oceania and East Africa. During the first nine months of this year, non-financial investments in the economies along the routes by Chinese companies were worth USD9.6 billion, or 12.3% of total foreign investments during the period, according to China’s Ministry of Commerce (MOFCOM).
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