Zhang Jianhua, an official of the Ministry of Industry and Information Technologies supervising the Fund, said at a conference in Shenzhen that the IA industry investment fund had been created in January under the leadership of the Ministries of Industry and Finance, said State-Gerved Shanghai News on Thursday.
The fund will support the Chinese strategy led by the State thanks to investment in equity, with contributions from phase III of the integrated circuit fund of China, the fund supported by the State aimed at supporting the investment of the flea industry, according to Zhang.
The AI fund will be managed by the management of the Guozhi Investment (Shanghai) Investment Capital Fund, a state-supported company, according to Zhang.
The details highlight the latest Beijing efforts to stimulate its development of the AI industry in a global race for technological domination and the increase in American restrictions aimed at limiting China access to advanced technologies.
