China's growing ambitions present numerous opportunities. It's a...

China's growing ambitions present numerous opportunities. It's a big pie waiting to be shared..... For interested readers: https://www.rand.org/pubs/perspectives/PEA4012-1.html#fn1

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China wants to become the global leader in artificial intelligence (AI) by 2030.^[1] To achieve this goal, Beijing is deploying industrial policy tools across the full AI technology stack, from chips to applications.
AI-Specific Funding

Beijing is also increasing public funding for China’s AI industry through specialized industry funds, bank loan programs, and local government funding. Although there likely will be significant waste in the process, public funding will help support a growing AI start-up ecosystem, particularly for applications. In January 2025, China launched an $8.2 billion National AI Industry Investment Fund.^[63]China’s broader $138 billion National Venture Capital Guidance Fund will target several AI-related fields, such as robotics and “embodied intelligence.”^[64]Local governments, such as Hangzhou and Beijing, have followed suit with their own state-led AI investment funds.^[65]

Major banks have also launched AI industry lending programs, most notably including the Bank of China’s five-year, $138 billion financing program for AI-related industries.^[66]Other banks, such as the People’s Bank of China and the Industrial and Commercial Bank of China (ICBC), have launched financing programs for the tech industry, which will likely include funding for AI specifically.^[67]Many of these AI and tech funds were launched this year.