Intel invests RMB 120m to promote “grass roots technology innovation” in China

BEIJING – Amid deepening mistrust over information security between superpowers like the US and China, Intel Corp has announced plans to invest RMB 120 million (US$19.3 million) to promote grass roots technology innovation in China.

Intel CEO Brian Krzanich believes the “vibrant atmosphere of innovation in China” will help his company “find new business opportunities beyond personal computers and other traditional information technology sectors”.

Pledging wider collaboration with local institutes and universities, Krzanich cited huge opportunities for mutual growth with China “driven by the public cloud, network transformation, big data and new IT services”. RMB 80 million will be used to set up an angel investment fund that focuses on companies preparing for going public.

Intel’s announcement comes after the US recently added three major partners of Intel in the supercomputing sector to a technology embargo list. www.webershandwick.cn (ATI).