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Tianjin to set up 100-billion-yuan AI funds

Updated: May 17,2018 11:12 AM     Xinhua

TIANJIN — North China’s Tianjin Municipality has announced plans to set up funds worth 100 billion yuan ($15.7 billion) to support the artificial intelligence 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 Sun Wenkui, vice-mayor of Tianjin.

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

The funds of 100 billion yuan will be invested in emerging industries such as intelligent robots, hardware and software, including 30 billion yuan in sub-fund for intelligent device and intelligent upgrade of traditional industries.

Sun said a maximum of 30 million yuan of financial support would be provided to each scientific research institution at national or provincial levels that settles in Tianjin.

Local authorities will pay special attention to intellectual property protection and strict law enforcement in the area, Sun added.