China’s Shanghai to ramp up high-tech investments
BEIJING (Reuters) – China’s financial hub of Shanghai will promote investments in specialized technology including chip design, circuitry and artificial intelligence as the country pushes forward with a move toward tech self-reliance.
The city plans to provide investment help for certain qualified semiconductor projects with up to 100 million yuan ($14.47 million)in support, a statement from the government said.
The broad aim is to boost investments, enhance industrial development and speed up the construction of modern industrial systems, the government said.
($1 = 6.9100 Chinese yuan renminbi)
(Reporting by Bernard Orr and Albee Zhang; Editing by Shri Navaratnam)
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