In February, Shanghai launched a new AI platform called an “AI supermarket,” giving developers one-stop access to tools like AI models, affordable computing power, and quality data. It’s part of the Shanghai Foundation Model Innovation Center, which supports over 100 AI companies and provides resources such as funding help and computing subsidies.
On April 29, 2025, Chinese President Xi Jinping visited the center and encouraged the city to lead in AI development and innovation. He highlighted the fast growth of AI and the importance of training new talent, especially young people, to drive China’s future in this field. A new global hiring plan and a talent hub have also been launched in Shanghai to support AI startups and entrepreneurs.
That same day, Xi also visited the New Development Bank (NDB) and met with its president, Dilma Rousseff. He praised the bank, created by BRICS countries, for its strong role in helping developing nations by funding major projects, like green energy and infrastructure.
Xi called on the NDB to continue supporting the Global South with affordable, sustainable financing and to speak up for developing countries in global finance. Rousseff agreed, saying the bank will keep helping these countries grow, despite global economic challenges like protectionism.
Source: CGTN
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