Chinese server giant Inspur in alliance with global tech leaders to offer fintech services along Belt and Road
Goal is to provide tech and financial solutions, cloud computing, and other fintech-related services, offered through a network of data centres
Inspur, China’s largest server maker, is partnering with four global IT companies – Cisco, IBM, Ericsson, and Diebold Nixdorf – to form a strategic digital economy alliance for the country’s “Belt and Road Initiative”, aimed at providing data centres and fintech-related services on economies along the trade routes.
The alliance, initiated by Inspur, will receive state funding and support from China’s National Development Bank, The Export-Import Bank of China, and China Export and Credit Insurance Corp, the server maker said.
Its goal is to provide tech and financial solutions, including big data, cloud computing, and fintech-related services, said Sun Pishu, Inspur’s chairman and chief executive officer.
“We hope the partnership with these top global tech firms and state-level financial organisations will help Belt and Road countries solve fund shortages and technology bottlenecks,” he said.
“In this digital economic age, we can create an informational ‘Belt and Road’ through the interconnection and inter-working of information and data flows, creating a link among economies for their core goods and services and other resources.
Inspur won a bid in Mozambique a year ago to use technology solutions to help improve the country’s tax-tracking system.
The Belt and Road Initiative – proposed by Chinese President Xi Jinping – plans to rekindle the historic Silk Road trading routes and create a blueprint for future global economic development.
The routes go through around 60 countries and regions from Asia to Europe, and also include Oceania and East Africa.
During the first nine months of this year, non-financial investments in the economies along the routes by Chinese companies were worth US$9.6 billion, or 12.3 per cent of total foreign investments during the period, according to data from China’s Ministry of Commerce earlier this week.
It said most went to Singapore, Malaysia, Laos, Indonesia, Pakistan, Russia, and Cambodia.