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July 23, 2024

VIA CORRESPONDENCE

Division of Corporation Finance

Office of Trade & Services

Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Attn:

Anastasia Kaluzienski

Robert Littlepage

    Re:
    VNET Group, Inc.

    Form 20-F for the Year Ended December 31, 2023

    Filed April 26, 2024

    File No. 001-35126

Dear Ms. Kaluzienski and Mr. Littlepage:

This letter sets forth the response of VNET Group, Inc.
(the “Company”) to the comments contained in the letter dated July 10, 2024, from the staff (the “Staff”)
of the Securities and Exchange Commission (the “Commission”) regarding the Company’s annual report on Form 20-F
for the fiscal year ended December 31, 2023 (the “Form 20-F”).

For ease of review, we have set forth below each
of the numbered comments of the Staff’s letter and our responses thereto. Further, we will include the revisions proposed in our
responses to the Staff’s comments in future annual report filings with the Commission, after the Staff’s completion of its
review of our responses. All capitalized terms used but not defined in this letter shall have the meaning ascribed to such terms in the
Form 20-F.

Form 20-F for the Fiscal Year Ended December 31, 2023

Risk Factors, page 18

1. We note your proposed disclosure revisions in response to
prior comment 1. Please provide us with the revised disclosures to your risk factors where you will discuss how Hong Kong law differs
from PRC law and any risks and consequences to the company associated with those laws.

Response:
In response to the Staff’s comment, we propose to revise the relevant risk factor disclosure on pages 53, 54, 55, and 62 of
the Form 20-F (page reference is made to the Form 20-F to illustrate the approximate location of the disclosure) in future
filings as follows (added disclosure is underlined and deletions are in strikethrough), subject to updates and adjustments to be made
in connection with any material development of the subject matter being disclosed:

Division of Corporation Finance

Office of Trade & Services

Page 2

On page 53:

Uncertainties
with respect to the PRC legal system in the Chinese mainland could limit legal protections
available to you and us.

We conduct most of our business through our PRC subsidiaries and consolidated
affiliated entities in China the Chinese mainland. Our operations in China the Chinese mainland
are governed by PRC laws and regulations. Our PRC subsidiaries are FIEs and are subject to laws and regulations applicable to foreign
investment in China the Chinese mainland and, in particular, laws applicable to FIEs. The PRC legal system is
evolving rapidly, and the PRC governmental authorities may continue to promulgate new laws and regulations regulating our business. For
example, on December 29, 2023, the Standing Committee of the National People’s Congress published the revised PRC Company Law,
which will take effect on July 1, 2024. The revised PRC Company Law provides that the registered capital of a limited liability company
shall be paid up within five years after the establishment of such company by its shareholders in accordance with its articles of association.
We cannot assure you that our business operations would not be deemed to violate any existing or future PRC laws or regulations, which
in turn may limit or restrict us, and could materially and adversely affect our business and operations. In addition, rules and regulations
in China the Chinese mainland can change quickly, therefore, our assertions and beliefs of the risks imposed by
the Chinese legal and regulatory system cannot be certain.

The PRC legal system is a civil law system based on written statutes.
Unlike the common law system, there is a limited volume of published court decisions which may be cited for reference but not binding
on subsequent cases and have limited precedential value unless the Supreme People’s Court otherwise provides. Since late 1970s,
the PRC government has been developing a comprehensive system of laws and regulations governing economic matters in general. The overall
effect of legislation over the past several decades has significantly enhanced the protections afforded to various forms of foreign investments
in China the Chinese mainland. Our PRC subsidiaries and the VIEs are subject to various PRC laws and regulations
generally applicable to companies in China the Chinese mainland. However, as these laws and regulations are relatively
new, and because of the limited volume of published decisions and their nonbinding nature, the interpretation and enforcement of these
laws and regulations involve uncertainties.

In addition, the PRC legal system is based in part on government policies
and internal rules, some of which may not be published on a timely basis or at all, and some of which may have a retroactive effect. As
a result, we may not be aware of our violation of these policies and rules until sometime after the violation. From time to time,
we may have to resort to administrative and court proceedings to enforce our legal rights. The administrative and court proceedings may
be protracted, resulting in substantial costs and diversion of resources and management attention. However, since PRC administrative and
court authorities have significant discretion in interpreting and implementing statutory and contractual terms, it may be difficult to
evaluate the outcome of administrative and court proceedings and the level of legal protection we enjoy. These uncertainties may also
impede our ability to enforce the contracts we have entered into and could materially and adversely affect our business, financial condition,
and results of operations.

    2

Division of Corporation Finance

Office of Trade & Services

Page 3

On page 54:

“It may be difficult to effect service of process upon
us, our directors or our executive officers that reside in China, or to conduct investigations or collect evidence within China, or to
enforce any judgments obtained from non-PRC courts or bring actions against them or us in China.

Certain of our directors and executive officers
reside in China. In addition, many of our assets and those of our directors and executive officers are located in China. The PRC does
not have treaties providing for the reciprocal recognition and enforcement of judgments of courts with the United States, the United Kingdom,
Japan and many other jurisdictions. As a result, it may not be possible for investors to serve process upon us or those persons in China,
or to enforce against us or them in China, any judgments obtained from non-PRC jurisdictions. As such, shareholder claims or regulatory
investigations that are common in the United States may be difficult to pursue as a matter of law or practicality in China.

Due to jurisdictional limitations, matters
of comity and various other factors, the ability of U.S. authorities to investigate and bring enforcement actions against companies may
be limited in foreign jurisdictions, including China. For example, in China, there are significant legal requirements and other obstacles
to providing information needed for regulatory investigations or litigation initiated outside China. Although the authorities in China
may establish a regulatory cooperation mechanism with the securities regulatory authorities of another country or region to implement
cross-border supervision and administration, such cooperation with the securities regulatory authorities in the United States may not
be efficient in the absence of a mutual and practical cooperation mechanism. Furthermore, according to Article 177 of the PRC Securities
Law, which became effective in March 2020, no overseas securities regulator is allowed to directly conduct investigations or evidence
collection activities within the territory of the PRC. The Confidentiality and Archives Management Provisions, which became effective
on March 31, 2023, provides that the investigation and evidence collection in relation to the oversea securities offering and listing
of the PRC domestic companies by the overseas securities regulatory authorities and relevant authorities shall be conducted through the
cross-border cooperation mechanism for supervision and administration and the PRC domestic companies shall obtain the prior consent from
the CSRC or relevant authorities before cooperating with such overseas securities regulatory authorities or relevant authorities in connection
with relevant inspections or investigations or providing relevant documents to such overseas securities regulatory authorities or relevant
authorities. The inability of an overseas securities regulator to directly conduct investigations or evidence collection activities within
China may further increase difficulties faced by you in protecting your interests.

There
is uncertainty as to whether the judgment of United States courts will be directly enforced in Hong Kong, as the United States and Hong
Kong do not have a treaty or other arrangements providing for reciprocal recognition and enforcement of judgments of courts of the United
States in civil and commercial matters. However, a foreign judgment may be enforced in Hong Kong at common law by bringing an action in
a Hong Kong court since the judgment may be regarded as creating a debt between the parties to it, provided that the foreign judgment,
among other things, is a final judgment conclusive upon the merits of the claim and is for a liquidated amount in a civil matter and not
in respect of taxes, fines, penalties, or similar charges. Such a judgment may not, in any event, be so enforced in Hong Kong if (a) it
was obtained by fraud; (b) the proceedings in which the judgment was obtained were opposed to natural justice; (c) its enforcement
or recognition would be contrary to the public policy of Hong Kong; (d) the court of the United States was not jurisdictionally competent;
or (e) the judgment was in conflict with a prior Hong Kong judgment.”

    3

Division of Corporation Finance

Office of Trade & Services

Page 4

On page 55:

“We may rely on dividends paid by our operating subsidiaries
to fund cash and financing requirements, and limitations on the ability of our operating subsidiaries to make payments to us could have
a material adverse effect on our ability to conduct our business and fund our operations.

We are a holding company incorporated under the laws of the Cayman
Islands and conduct our business primarily through our operating subsidiaries and our consolidated affiliated entities, most of which
are limited liability companies established in China. We may rely on dividends paid by our subsidiaries for our cash needs, including
the funds necessary to pay dividends and other cash distributions to our shareholders, to service any debt we may incur and to pay our
operating expenses. The payment of dividends by entities organized in China is subject to limitations. In particular, regulations in
China currently permit payment of dividends only out of accumulated profits as determined in accordance with the PRC accounting standards
and regulations. Our PRC subsidiaries are also required to set aside at least 10% of their after-tax profit based on PRC accounting standards
each year to their statutory reserves until the accumulative amount of such reserves reaches 50% of their registered capital. These reserves
are not distributable as cash dividends. Furthermore, any portion of its after-tax profits that a subsidiary has allocated to its staff
welfare and bonus fund at the discretion of its board of directors is also not distributable as cash dividends. Moreover, if our operating
subsidiaries incur any debt on their own behalf in the future, the instruments governing the debt may restrict their ability to pay dividends
or make other distributions to us. Any limitation on the ability of our operating subsidiaries, including VNET China, to distribute dividends
and other distributions to us could materially and adversely limit our ability to make investments or acquisitions that could be beneficial
to our businesses, pay dividends or otherwise fund and conduct our businesses. In addition, the PRC tax authorities may require us to
adjust our taxable income under the contractual arrangements our WFOEs currently have in place with the VIEs in a manner that would materially
and adversely affect their ability to pay dividends and other distributions to us.

In January 2017, SAFE promulgated the Circular on Further Improving
Reform of Foreign Exchange Administration and Optimizing Genuineness and Compliance Verification, or SAFE Circular 3, which stipulates
several capital control measures with respect to the outbound remittance of profit from domestic entities to offshore entities, including
(i) under the principle of genuine transactions, banks shall check board resolutions regarding profit distribution, original copies
of tax filing records and audited financial statements; and (ii) domestic entities shall hold income to account for previous years’
losses before remitting any profits. Moreover, pursuant to SAFE Circular 3, domestic entities shall make detailed explanations of their
sources of capital and utilization arrangements, and provide board resolutions, contracts and other proof when completing the registration
procedures in connection with any outbound investment.

With
respect to our Hong Kong entities, although currently there are not equivalent or similar restrictions or limitations in Hong Kong on
cash transfers in, or out of, our Hong Kong entities (including currency conversion), if certain restrictions or limitations in mainland
China were to become applicable to cash transfers in and out of Hong Kong entities (including currency conversion) in the future, the
funds in our Hong Kong entities, likewise, may not be available to meet our currency demand.”

    4

Division of Corporation Finance

Office of Trade & Services

Page 5

On page 62:

“Governmental regulation of currency conversion may limit
our ability to receive and utilize our revenues effectively.

We, through the VIEs and their subsidiaries, earn most of our revenues
and incur most of our expenses in Renminbi. However, Renminbi is not freely convertible at present.

The PRC government continues to regulate conversion between
Renminbi and foreign currencies, despite the significant reduction in its control in recent years over trade transactions involving
import and export of goods and services as well as other frequent routine foreign exchange transactions. These transactions are
known as current account items. However, remittance of Renminbi by foreign investors into the PRC for the purposes of capital
account items, such as capital contributions, is generally permitted upon obtaining specific approvals from, or completing specific
registrations or filings with, the relevant authorities on a case-by-case basis and is subject to a strict monitoring system.
Regulations in the PRC on the remittance of Renminbi into the PRC for settlement of capital account items are developing gradually.
Currently, our PRC subsidiaries may purchase foreign currencies for settlement of current account transactions, including payments
of dividends to us, without the approval of the SAFE. However, foreign exchange transactions by our PRC subsidiaries under the
capital account continue to be subject to significant foreign exchange controls and require the approval of or need to register or
file with PRC governmental authorities, including the SAFE. In particular, if our PRC subsidiaries borrow foreign currency loans
from us or other foreign lenders, these loans must be filed with the SAFE after the loan agreement is signed and at least three
business days before the borrower draws any amount from the foreign loan, and the accumulative amount of foreign currency loans
borrowed by a PRC subsidiary may not exceed a statutory upper