(Yicai Global) Feb. 1 -- Datacenter provider Inspur Electronic Information Industry Co. plans to invest CNY10 million (USD1.6 million) to set up a cloud computing research base in Zhengzhou, Henan province, via a local unit.

Zhengzhou Yunhai Information Technology Co. will found the cloud institute, it said in a joint statement with its Shandong-based parent yesterday. The center will research and develop key technologies and grant more opportunities for the firm to cooperate with other companies and get government backing to share knowledge and train up new talent, it added.

China's cloud computing sector is pegged to grow by at least 30 percent a year until 2022, reaching almost CNY687 billion (USD104 billion) by 2020, state-owned news agency Xinhua reported in November, citing a report published by market researcher Forward Intelligence.