China has disclosed details about a 60 billion yuan (US$8.2 billion) state fund aimed at early-stage investments in artificial intelligence (AI) projects, underscoring Beijing’s commitment to advancing the industry through state-led investments. Zhang Jianhua, an official from the Ministry of Industry and Information Technology overseeing the fund, said at a conference in Shenzhen that the…
Since 2022, China’s economy has been haunted by a weak recovery. Real gross domestic product (GDP) growth has fallen below 5 per cent for two consecutive quarters this year, posing challenges for Beijing to achieve its annual growth target of around 5 per cent. The International Monetary Fund estimates that the proportion of China’s nominal…
China’s semiconductor sector saw a steep one-third decline in funding inflows this year amid US restrictions on advanced chips and overcapacity concerns in legacy chips, according to data from a local industry research firm. In the first 11 months of 2024, the country’s chip industry recorded 677 investment deals, a decline of 35.9 per cent…