Former official: China has developed more than 100 artificial intelligence model such as "deeply ill"

A former senior official said the benefits of China in the development of artificial intelligence place it on the threshold of a wave of innovations that will bear fruit for more than 100 innovations similar to the “Deep Seck” model in the next eighteen months. Zhou Min, who previously held the position as Deputy Governor of the Chinese People’s Bank, said during his participation in the World Economic Forum in Tianjin on Tuesday that new software products “will radically change the nature of the Chinese economy and its technological nature.” Zhou, who also took over as Deputy Director General of the International Monetary Fund, believes that this transformation is possible thanks to the engineering competencies in China and the breadth of its consumer base, as well as supporting government policies. The technology breed between America and China reflects the optimistic view of the future of artificial intelligence in China, the ongoing intensity of competition with the United States for leadership in advanced technology, at a time when the world’s two largest economies fend a trade war. The United States is a major rival in the field of artificial intelligence, especially after the “Deep Seck” model surprised the global technological circles last January thanks to strong performance and low cost. In addition to its efforts to prevent China from obtaining advanced equipment for semiconductor manufacturing, Washington is working to prohibit Chinese businesses from buying advanced artificial intelligence chips produced by the “Nvidia” business for training purposes, citing national security issues. On the other hand, Beijing is now counting on local technology giants such as “Huawei Technologies” in his efforts to develop advanced local chips. The effects of ‘deeply sick’, the rise of ‘Deep Seck’ led to a wave of rise in the shares of Chinese technology companies, which strengthened the hope of China’s competitiveness, despite trade tensions with the administration of US President Donald Trump and local economic challenges. “Bloomberg Economics” estimates that the contribution of the advanced technological sector to GDP of China increased to about 15% in 2024, compared to about 14% in the previous year, and it could exceed 18% by 2026. In this context, the annual meeting of the World Economic Forum in Tianjin, known as “Davos Summer”, attracted a number of leaders from countries and senior managers. The Prime Minister of Singapore Lawrence Wong and Prime Minister of Vietnam Fam Menh Cennah will get words during the three -day event activities. Chinese Prime Minister Lee Qiang is also expected to speak during the opening session on Wednesday, as well as a complicated meeting with the conference participants. China draws a lower growth than expected, despite achieving a customs target a month ago with the United States, US drawings still exist at high levels, while reaching a long -term agreement remains unresolved. Bloomberg analysts expect their opinion to delay the growth of the Chinese GDP to 4.5% during this year, which is much lower than the official purpose of about 5%, knowing that the economy scored 5.4% during the first quarter. “The uncertainty caused by US Customs Policy is an important factor that could lead to a contraction of the world trade growth this year,” Zhu told reporters on the side of the forum. He added that “the entire range of Commercial Industries has begun to delay, and that investments start to stop, so the impact is greater than just customs duties.” Zhou pointed out that the United States is likely to see an increase in inflation rates from August, as the impact of customs duties takes time to appear in the economy, and that companies can consume the shares they cost before Trump increased the fees. Promoting local consumption is an urgent priority despite external shocks, the Chinese GDP is likely to exceed 5% during the second quarter, according to Huang Yi Ping, a member of the Monetary Policy Committee at the Chinese Central Bank. During his participation in another discussion session in the Tianjin Forum, he indicated that the economic performance was strong in April and May. But although retail sales recorded an unexpected growth in May, the fastest since December 2023, Huang emphasized that China still has to address the problem of a lack of consumption. “Promoting consumption is still a major challenge, partly due to the fact that the global foreign market is no longer open as in the past,” says Huang, who is also the dean of the National Development School at the University of Beijing. He added: “For a large country you cannot continue to carry out your productive capacity. Therefore, I think the political priority is now to focus on the local economic cycle first.”