China’s Shanghai to ramp up high-tech investments

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.

Must Read

OPEC+ discusses July oil output hike, focus on 411,000 bpd, sources...

OPEC+ oil-producing countries met on Saturday to discuss July output with four sources telling Reuters while the meeting was under way that the group...