Shenzhen's Qianhai offers up to 20M yuan in subsidies to boost AI industry

On January 3, the Shenzhen-Hong Kong Artificial Intelligence Computing Power Center in Qianhai was officially launched. With an initial investment of 466 million yuan, this project hosts the highest computing capacity and occupies the largest area in the Pearl River Delta region.

Photo from Nanfang Daily

On January 2, Qianhai enacted a range of measures to promote the high-quality development and advanced applications of artificial intelligence (AI). These measures include rental subsidies, income tax relief, and support for investment and financing, aiming to deliver comprehensive policy backing for AI enterprises establishing themselves in Qianhai.

Qianhai supports Fortune Global 500 companies and national innovation entities in establishing AI innovation centers, with a maximum reward of five million RMB. AI enterprises that choose Qianhai as their base can receive an annual subsidy of up to three million RMB for housing rent, while national-level AI industry organizations relocating to this areacan receive a reward of 500,000 RMB.

Furthermore, these measures also support the construction of intelligent computing centers and computing scheduling platforms in Qianhai, with each qualifying platform eligible for a maximum grant of 20 million RMB.

In recent years, Qianhai has dedicated significant efforts to develop key areas such as general-purpose large models, content generation, computing chips, and intelligent connected vehicles. It has also ventured into emerging fields like intelligent entities and robotics, and is renowned for housing a multitude of AI companies including SenseTime and Pony.ai.

In the first three quarters of 2023, Qianhai experienced a substantial 65.5% surge in revenue in the field of software and information technology services, establishing a solid footing for the development of its AI industry.

In recent years, Shenzhen's AI industry has continued to flourish. In 2022, the city's AI industry expanded to reach 248.8 billion RMB, an increase of 32.10 percent year-on-year. (GD Today)