China launches major fund to drive advancements in AI and emerging technologies
China has revealed its intention to launch a substantial government-supported fund to boost progress in artificial intelligence, quantum computing, hydrogen energy, and additional high-tech industries. This project, known as the "state venture capital guidance fund," was announced by Zheng Shanjie, the head of the National Development and Reform Commission (NDRC), at a press briefing conducted during China’s yearly legislative sessions.The fund aims to accumulate close to 1 trillion yuan (around $138 billion) within a span of 20 years, with investments coming from regional authorities and private sector companies. This bold strategy highlights China’s long-term vision to maintain its dominance in…