Guangzhou plans to legislate to promote the development of artificial intelligence: fully leverage the guiding role of government investment funds such as industrial development funds and scientific and technological innovation funds.

The official website of the Guangzhou Municipal People's Congress Standing Committee announced today the "Guangzhou Regulations on Promoting the Development of Artificial Intelligence," which is open for public comments and suggestions. To promote the large-scale clustering development of the artificial intelligence industry, the draft regulation includes corresponding provisions for the construction of specialized industrial parks and the cultivation of open-source ecosystems. In terms of investment and financing support, the regulations aim to fully leverage the guiding role of government investment funds such as industrial development funds and technology innovation funds, encouraging state-owned and private capital to focus on supporting the citys high-growth startup companies in the artificial intelligence sector. State-owned enterprise investment funds should comprehensively evaluate their effectiveness based on the amplifying effect of social capital and the driving impact on the industry. If fund investments do not achieve the expected results, but market due diligence is in place, decision-making procedures are compliant, project operations are tracked timely, and no personal benefits are sought, negative evaluations will not be made according to regulations, thus alleviating concerns about state capital investments.