China’s New Tech Fund Is Reshaping AI & Quantum Computing
China, 10th March 2025 – China has set out to achieve with its new state venture capital guidance fund. The fund, announced by China’s state economic planner chief Zheng Shanjie, will invest in the leading-edge sectors of artificial intelligence, quantum technology, and hydrogen energy storage. It’s supposed to draw close to 1 trillion yuan ($138 billion) in capital in 20 years from the private sector and local governments.
Chinese officials consider high-end chips, quantum computing, robotics, and AI key to driving economic growth and upgradation of manufacturing. China, however, is under increasing pressure from US technology restrictions. Yet, China remains committed to moving ahead. Zheng adopted a defiant tone while declaring, “Scenes formerly only found in science fiction are now becoming realities. We are progressively advancing into the global forefront of technology and innovation. This is evidence that the suppression and blockade attempt on the part of some forces serve only to stimulate our pursuit for independent innovation,” seemingly referring to the United States.
DeepSeek, a Chinese firm that created a large language model on par with those of international giants OpenAI and Google, is proof of China’s technological advancements. DeepSeek accomplished this despite the US restrictions on high-power AI chips, demonstrating that innovation is possible even under difficult circumstances.
China’s Premier Li Qiang has also promised to develop emerging sectors, such as bio-manufacturing, quantum technology, embodied AI, and 6G technology. This is as part of a larger plan to increase domestic consumption and economic growth. For decades, China had been concentrating on exports, and now it is placing greater importance on building up household spending, which only represents around 39% of GDP.
As a part of these efforts, China is taking special steps to boost domestic demand and has raised its budget deficit to fund investment in infrastructure and consumer subsidies. The government will attempt to restore the entrepreneurial spirit in private firms that are playing a very crucial role in China’s economy. With this fresh fund and greater focus on innovation and consumption, China is preparing for long-term development and technological superiority.
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