Chinese tech firms taking cloud business global

Chinese tech companies are taking their cloud businesses global, as they chase opportunities abroad offered by the quickly growing international footprint of clients in their home market. Tencent, Alibaba and Huawei have all announced big investments in cloud computing infrastructure overseas in the first half of 2017. The three made up the bulk of the 13 outward greenfield FDI projects worth $1.2bn announced by Chinese companies in data processing, hosting and related services between January and June, according to figures from fDi Markets, a Financial Times data service. The figure is greater than any previous full year and makes China the world’s second-largest force for investment in data processing, hosting and related services. The US is far out in front with 46 announced projects for investments of more than $6.9bn, as Amazon, Google and Microsoft expand their global networks of data centers and cloud services.