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China to spend $182 billion to boost Internet by end of 2017

China to spend $182 billion to boost Internet by end of 2017

May 20, 2015

Via: itCurated
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China will spend more than $182 billion to boost Internet speeds by the end of 2017, a top government body said, as Beijing moves towards a more service-driven economy to boost growth.

The State Council said the government will invest more than 430 billion yuan ($69.3 billion) this year on network construction, with at least another 700 billion yuan ($112.8 billion) spent over the following two years.

The goal is to accelerate the development of fiber optic broadband and high speed 4G mobile networks, the governing body said on its website.

China ranked 82nd in the world for average Internet connection speed, slower than Malaysia, Thailand and Taiwan, according to cloud computing services provider Akamai’s State of the Internet report for the fourth quarter of 2014.

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