Date
29 May 2017
Hu Xiaoming said Aliyun is targeting securities brokerages, insurance firms as well as small and medium-sized banks overseas. Photo: EJ Insight
Hu Xiaoming said Aliyun is targeting securities brokerages, insurance firms as well as small and medium-sized banks overseas. Photo: EJ Insight

Aliyun vows to beat Amazon cloud computing unit in four years

Aliyun Computing Co. Ltd., a unit of Alibaba Group Holding Ltd., seeks to surpass US e-commerce giant Amazon.com Inc.’s leading status in the cloud computing business in three to four years, the Hong Kong Economic Journal reported Monday.

Aliyun president Hu Xiaoming told reporters in Beijing that his company now handles 38,000 transactions per second through its clearing system, way more than the transactions coursed through the IOE system under International Business Machines Corp., The Oracle Corp. and EMC Corp.

The cloud computing market in mainland China is not at all inferior to that of America’s, Hu said.

Aliyun is trying to expand its business by seeking clients from securities brokerages, insurance firms as well as small and medium-sized banks overseas.

Its financial cloud computing division, for example, is focusing on peer-to-peer lending and asset management. 

Aliyun is also in talks with Korean and Taiwanese corporations with a view to securing over 2,000 business partners in three years, doubling the company’s business scale.

It also plans to set up data centers in Singapore, Japan, the Middle East, India and Europe in the coming 12 to 18 months, on top of existing ones in the United States and Hong Kong, the report said.

[Chinese version中文版]

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