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China's central bank, the People's Bank of China (PBOC), began research on the digital currency in 2014 under the leadership of Governor Zhou Xiaochuan. [9] [2] In 2016, Fan Yifei, a deputy governor of the PBOC, wrote that "the conditions are ripe for digital currencies, which can reduce operating costs, increase efficiency and enable a wide range of new applications". [10]
The China Internet Investment Fund (CIIF; Chinese: 中国互联网投资基金; pinyin: Zhōngguó Hùliánwǎng Tóuzījījīn), is a China Government Guidance Fund.The fund focuses on the internet sector including cybersecurity, artificial intelligence, big data, cloud computing and other services that are in line with national strategies and help develop the digital economy of China.
The company, founded in late 2023 by Chinese hedge fund manager Liang Wenfeng, is one of scores of startups that have popped up in recent years seeking big investment to ride the massive AI wave ...
Sam Altman, CEO of OpenAI, last year said the AI industry would need trillions of dollars in investment to support the development of in-demand chips needed to power the electricity-hungry data ...
Chinese automaker Great Wall Motor and China's leading telecoms providers are integrating the AI model released by DeepSeek into their offerings, the latest Chinese companies looking to capitalize ...
The state sector is a major part of China's economy, with SOEs accounting for approximately 25% of the national GDP as of 2020. [10]: 6 China's SOEs are among the largest global firms by revenue, and of the 135 Chinese companies on the Fortune Global 500 list (2023), 85 are state-owned.
The news marks a sharp change in fortunes for established AI companies, whose stocks have soared in value in recent years amid hopes they would reshape the world economy and deliver huge profits.
China Investment Corporation (CIC) is a sovereign wealth fund that manages part of China's foreign exchange reserves. China's largest sovereign fund , CIC was established in 2007 with about US$200 billion of assets under management , a number that grew to US$1.2 trillion in 2021 [ 4 ] and US$1.3 trillion in December 2024.