Neusoft Leads China Technology Stocks Higher on State Cloud Computing Plan

Neusoft Corp. rose in Shanghai trading, leading gains by China’s technology stocks, after the government said it will start a cloud computing trial.

Neusoft, a Chinese software maker, gained 6.1 percent to 19.30 yuan at 10:58 a.m. local time. UFIDA Software Co. climbed 2.4 percent to 24.40 yuan. A measure of technology stocks had the biggest gain among the 10 industry groups in the CSI 300 Index.

China selected Beijing, Shanghai and three other cities to start a cloud computing trial, the Ministry of Industry and Information Technology said in a statement. Cloud computing refers to the delivery of hosted services such as communications infrastructure, software, and data storage through the Internet.

To contact the reporter on this story: Chua Kong Ho in Shanghai at kchua6@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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