China software maker Kingdee to shift to domestic cloud services amid US-China tech war

Shen Chongfeng, rotating president of China’s biggest corporate software maker Kingdee, says the company is investing heavily in cloud services at the expense of short-term profits to capitalise on a “once-in-a-lifetime” opportunity for domestic tech firms. Kingdee has also been undergoing a transformation of its own as it increasingly relies on offering software-as-a-service (SaaS).