BEIJING, April 30, 2025 /PRNewswire/ -- CGTN published an article on Chinese President Xi Jinping's inspection tour in east China's Shanghai. Focusing on his visits to an AI incubator and the New Development Bank, the article stresses China's efforts in developing the AI industry to foster tech innovation, and its willingness to strengthen project cooperation with the bank and focus on green, innovative and sustainable development to achieve more results.

An artificial intelligence ecosystem platform, dubbed an "AI supermarket," made its debut in Shanghai in February, providing one-stop access to AI resources such as DeepSeek models, government-subsidized computing power and high-quality corpus.

The initiative marks the latest advancement by the Shanghai Foundation Model Innovation Center - a large model incubator home to over 100 enterprises.

Spanning over 60,000 square meters, the incubator provides developers with resources for ecosystem growth, including 18 support policies such as computing subsidies, fundraising networks and open data platforms.

Visiting the incubator on Tuesday as part of his inspection tour in Shanghai, Chinese President Xi Jinping called on the city to take the lead in AI development and governance, and accelerate the building of a highland of scientific and technological innovation with global influence.

The inspection trip came four days after China's leadership convened a dedicated AI study session, where President Xi called for gaining a head start in this strategic sector.

Highland of tech innovation

Officially unveiled in 2023, the center stands as one of China's first dedicated incubators and accelerators for large-scale AI models. It aims to fortify Shanghai's pursuit of establishing a world-class, globally competitive AI industry cluster.

To solidify the foundation for resident enterprises, the center has established five major functional platforms on computing power dispatching, open data, evaluation service, financial service and comprehensive service, supporting companies in terms of text corpus and computer resources, investment funds and filing guidance.

Meanwhile, it also extends top-priority policy support to accelerate the world premieres of various small vertical scenario models across consumer, entertainment, finance, and other major application domains, expediting large model innovations' integration into diverse industries.

"AI technology is evolving rapidly and entering a phase of explosive growth," Xi said, urging the city to sum up successful experiences in incubating the AI industry, and take the lead in AI development and governance.

Within a single building, enterprises from across the foundation model industry chain converge, creating an ideal environment for collaboration. Companies choosing to establish themselves here include foundational technology providers, application developers, scene designers, computing power supporters, and product marketers.

In response to the rapid development of resident enterprises to meet the center's need for more talents, Shanghai's Xuhui District has unveiled a global recruitment plan for AI talent and launched the West Bund International Talent Hub to bring talents to enterprises.

The talent hub has also housed the Shanghai Emerging Industry Young Entrepreneurs Association, further supporting young entrepreneurial talents to pioneer innovation.

"AI is a nascent industry, and it's also an industry that belongs to young people," Xi said while joining a salon with young innovators, urging them to continue to show their talents and skills to advance Chinese modernization.

High-quality development of Global South

On the same day, President Xi also visited the New Development Bank (NDB) and met with Dilma Rousseff, president of the institution.

Noting that broader BRICS cooperation has entered a stage of high-quality development, he said the bank is set to embark on its second golden decade of high-quality development.

As a multilateral development bank founded by the BRICS nations, the NDB has approved over 100 projects in all member countries for approximately $35 billion by the end of 2023, safeguarding the economic development of member countries and contributing to the improvement of the global economic governance system.

From urban railway projects in India and green wind power projects in Brazil to highway projects in China, the bank, with its efficient and pragmatic cooperation model, has enriched the practice of South-South cooperation, setting an example for multilateral cooperation.

Calling the bank "a pioneering initiative for the unity and self-improvement of the Global South," Xi called on the NDB to consider the development needs of the Global South, and provide more high-quality, low-cost and sustainable infrastructure financing.

Unilateralism and protectionism undermine the stability of industrial and supply chains, Rousseff stressed, adding that the bank will continue to contribute to the development of developing countries and emerging markets.

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