Changsha to boost development of AI industry
Changsha, capital of central China's Hunan province, held a press conference on April 16, introducing two new polices on boosting the development of its AI industry.
Changsha, capital of central China's Hunan province, held a press conference on April 16, introducing two new polices on boosting the development of its AI industry. The first aims to accelerate the technological development of AI and set up a production base, and the second details regulations on testing of intelligent connected vehicles (ICVs).
Seeking to become an AI powerhouse
Changsha will provide strong support to technological innovations in the fields of smart sensor, smart chip, image and video recognition, and voice recognition. The city will also encourage AI's extensive use in robotics, manufacturing, vehicle navigation, smart homes, and security monitoring.
The city government will award companies able to greatly contribute to the development of the AI industry with up to 100 million yuan (US$15.9 million). To attract investment, Changsha will provide up to 10 percent of actual investment volume as a subsidy-capping at 50 million yuan-to companies that invest no less than 100 million yuan in R&D, production, manufacturing or service, or to companies with the estimated valuation of no less than US$1 billion to set up head offices in the city.
Changsha also looks to strengthen agglomeration of AI firms. The city will establish three AI industrial parks in the Changsha High-Tech Industrial Development Zone, the Yuhua Economic Development District, and the Yuelu Mountain Hi-Tech Park. Companies could operate at these industrial parks rent-free for five years, in addition to receiving an annual financial support worth 5 to 10 million yuan based on their performances. Led by Changsha's Municipal Industrial Investment Fund, an AI-featured special development fund will be set up worth up to 5 billion yuan.
On a yearly basis, Changsha will nominate 10 to 20 demonstration pilot projects and award them with up to 30 percent of their actual investment. The highest amount of award is no more than 2 million yuan.
To support key technological research and development, Changsha will offer funding to key laboratories, research centers and technological centers that are newly recognized by the state, province or city, with amounts of 2 million yuan, 1 million yuan, and 500,000 yuan, respectively.