Vimicro processor to boost video surveillance

Vimicro Corp, a Chinese pioneer in developing homegrown chips, will launch a new artificial-intelligence-enabled processor this year to promote the use of AI in video surveillance, said Deng Zhonghan, chief scientist of the Beijing-based company on Thursday.

The move is part of China's broader push to develop a home-grown semiconductor industry, in the hope of reducing reliance on foreign technologies.

"China spends more than $200 billion to import chips every year, more than the amount spent on crude oil imports," said Deng, who is also a member of the 13th National Committee of the Chinese People's Political Consultative Conference.