A new plan from the Zhejiang government will see billions of yuan spent through 2027 to support AI companies and attract 'top talent'. — SCMP
The provincial government of Zhejiang, home to Alibaba Group Holding and DeepSeek, has released a comprehensive policy package to accelerate artificial intelligence (AI) research, industrial growth and talent acquisition, in an effort to turn the region into a “global AI innovation development highland”.
Under the plan, major companies in the AI supply chain – including those responsible for large language models, cloud computing and semiconductors – are expected to generate combined operating revenues of more than 1 trillion yuan (RM591.35bil or US$138.6 billion) by 2027, according to the policy, which was drafted in April and published on the provincial government’s website last week.
