According to the recent news, Longgang District of Shenzhen acts in accordance with Shenzhen Municipal Action Plan to Promote the High-quality Development of the AI Industry and the High-standard Application of the AI Technologies (2023-2024), and plans to launch an AI-industry-oriented fund with about 1 billion yuan, which would be the first one of Shenzhen on such a scale. Longgang District for the first time cooperates with a state-owned financial enterprise of Guangdong Province -- Technology Financial Group, in launching a fund, with Longgang District initiating the guide fund and the enterprise investing in the fund. And, Technology Financial Master Fund Investment and Management Company would be in charge of managing the fund.

It’s introduced that the fund would exist for 12 years, maybe longer. It would be input into AI sector, giving monetary support for the technological research and the enterprise growth, to promote the industrialization of AI and further to push the AI-assisted development of other industries. Moreover, the recipients of the fund would benefit from relative preferential policies and other supporting services.

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