China's economy harvests prosperity in golden autumn

Telecommunication and technology firms are boosting investments in the cloud industry. The rapid development of next-generation information technologies, led by cloud computing, has fostered new industries and revitalized traditional ones.

Data from the Ministry of Industry and Information Technology shows that, in the first half of this year, the cloud computing market exceeded 260 billion yuan ($35.55 billion), a year-on-year growth of over 40 percent.

The surge has prompted major telecom companies and internet giants to put more investments in the cloud industry.

China's cloud market is expected to remain in a high-growth phase and the overall market size is projected to surpass a trillion yuan by 2025, according to the China Academy of Information and Communications Technology, or CAICT, a Beijing-based think tank.