#china-ai-policy

#china-ai-policy

Government officials in Hangzhou have grand ambitions to make their city in eastern China a global center for artificial intelligence-and the funds to try to make it happen. In June, they pledged $140 million to subsidize AI firms that operate in town. Not to be outdone, Shanghai promptly followed in July with its own $140 million subsidy program, and inaugurated an "AI innovation town" two months later with low-cost office space for start-ups in the sector.