US-China tech war: software maker Kingdee sees opportunity in shift to domestic cloud services market

5b3640a8-acbe-11eb-9c9f-63ba12e765d1_image_hires_193856

Kingdee International Software Group, China’s biggest enterprise software company, is expanding in cloud services at the expense of short-term profits to capitalise on what its president calls a “once-in-a-lifetime” opportunity, as the US-China tech war pushes local firms to rethink their reliance on American technology.

Cosmic, Kingdee’s cloud services business for large corporations, is expected to double its revenue in 2021, capturing part of a domestic boom fuelled by the country’s push for technological self-reliance and software localisation, the company’s rotating president Shen Chongfeng said in an interview with the South China Morning Post in Shenzhen on April 21.