Tianjin sets up AI fund

By Global Times – Xinhua Source:Global Times - Xinhua Published: 2018/5/17 21:48:41

North China's Tianjin Municipality has announced plans to establish funds worth 100 billion yuan ($15.7 billion) to support the artificial intelligence (AI) industry, and a 10 billion-yuan fund to promote intelligent manufacturing.

"The funds are established to foster and expand the intelligent technology industry in the city," said Vice Mayor Sun Wenkui.

Sun said the 10 billion yuan fund would be used to support sectors such as the industrial internet, robotics, integrated circuits, information services and military-civilian integration.

The 100 billion yuan fund will be invested in emerging industries such as intelligent robots, hardware and software, with 30 billion yuan allocated to a sub-fund for intelligent devices and intelligent upgrading of traditional industries. Research institutions in Tianjin are eligible for the fund.



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