The official website of the Standing Committee of the Guangzhou Municipal People's Congress released the “Guangzhou Municipal Regulations on Promoting the Development of Artificial Intelligence” today to solicit comments and suggestions. In order to promote large-scale agglomeration and development of the artificial intelligence industry, the “Draft for Solicitation of Comments” makes corresponding provisions on the construction of characteristic industrial parks and the cultivation of open source ecosystems. Among them, at the level of investment and financing support, give full play to the guiding role of government investment funds such as industrial development funds and science and technology innovation funds, and drive state-owned capital and social capital to focus on supporting high-growth artificial intelligence start-ups in the city. Among them, state-owned enterprise investment funds should be comprehensively evaluated based on the amplification of social capital and industry-driving effects. Where fund investments do not achieve the expected results but market due diligence is in place, decision-making procedures are in place, project operation tracking is timely, and personal benefits are not sought, no negative evaluation shall be made in accordance with regulations to dispel concerns about investment in state-owned capital.

The official website of the Standing Committee of the Guangzhou Municipal People's Congress released the “Guangzhou Municipal Regulations on Promoting the Development of Artificial Intelligence” today to solicit comments and suggestions. In order to promote large-scale agglomeration and development of the artificial intelligence industry, the “Draft for Solicitation of Comments” makes corresponding provisions on the construction of characteristic industrial parks and the cultivation of open source ecosystems. Among them, at the level of investment and financing support, give full play to the guiding role of government investment funds such as industrial development funds and science and technology innovation funds, and drive state-owned capital and social capital to focus on supporting high-growth artificial intelligence start-ups in the city. Among them, state-owned enterprise investment funds should be comprehensively evaluated based on the amplification of social capital and industry-driving effects. Where fund investments do not achieve the expected results but market due diligence is in place, decision-making procedures are in place, project operation tracking is timely, and personal benefits are not sought, no negative evaluation shall be made in accordance with regulations to dispel concerns about investment in state-owned capital.