(Yicai) July 29 – Shanghai has announced a comprehensive support package for 12 measures to expand its artificial intelligence applications and reduce innovation and entrepreneurial costs.
The city announced several measures to further expand AI applications in the Shanghai Plan at the closing ceremony of the 2025 World AI Conference yesterday. This measurement covers the entire value chain, from computing power and models to data, industrial ecosystems, talent services, investment and financing.
The initiative includes $6 billion (US$839.9 million) to enhance the construction of a computing power scheduling platform and provide rent subsidies of up to 30% using intelligent computing power. $10 billion to support the procurement of AI models and high quality training data sets.
Shanghai will establish a town of AI to create high-density, low-cost AI industry clusters, providing qualified talent and entrepreneurial teams with rent or one-time startup funding ranging from six months to three years. It supports innovation in major frontier areas including AI basic theories, methods, tools, next-generation artificial general information, smart chips, embodied intelligence, intelligent software, brain computer interfaces, and intelligent computing systems, providing up to 30% of validated project investments, and delivers 5,000 million (USD7 million) CAP Per projects.
As of March 31, Shanghai had 394 large AI companies at home. The company has increased revenues to 29%, up 29% from a year ago to USD 116.4 billion, according to local economic committees and informationization data. The city's AI talent pool accounts for almost a third of China's total.
Additionally, Shanghai launched the AI Corporate Venture Capital Fund at WAIC's closing ceremony, winning $3 billion and billions at the closing ceremony, focusing on three key elements: Models, Data Corpus and Computing Power.
Editor: Martin Kadiev
