China is building a $2.1 billion Artificial Intelligence research park

China is planning to build a 13.8 billion yuan (US$2.1 billion) technology park dedicated to developing artificial intelligence (AI), state-backed news agency Xinhua reported Wednesday. It will host 400 companies and generate an estimated annual output of 50 billion yuan (about 7.7 billion U.S. dollars).
The park will focus on developing areas such as super high-speed big data, cloud computing, biometric identification and deep learning. Its technological infrastructure includes a 5G mobile network, supercomputer and cloud services.
The developer of the park, a company of Zhongguancun Development Group, will seek partnership with Chinese and overseas universities, research institutes and large companies to establish various research centers in the park, including a national-level artificial intelligence lab.
The campus will be constructed within five years and situated in the suburban Mentougou district in western Beijing. It will cover 54.87 hectares.
China aims to be a world leader in AI by 2030, with the aim of making the industry worth 1 trillion yuan.
China wants to make a “major breakthrough” in AI technology by 2025.