<ul><li>China has announced the creation of a state-backed fund to support AI, tech innovation, and emerging industries.</li><li>The fund, called the 'state venture capital guidance fund,' will focus on cutting-edge areas like AI, quantum technology, and hydrogen energy storage.</li><li>With a potential funding of nearly 1 trillion yuan ($138 billion) over 20 years, the fund aims to attract capital from local governments and the private sector.</li><li>China's move comes in response to mounting pressure from American tech restrictions and is seen as a step towards achieving semiconductor self-sufficiency.</li></ul>

China Creates High-Tech Fund To Support AI, Tech Innovation

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