Tianjin invests in intelligent technology to boost economy

Tianjin has announced new measures to expand investment in intelligence technologies and make the most out of them in order to bring about the integrated development of the intelligence industry and the real economy.

In May 2018, when hosting the Second World Intelligence Conference, Tianjin announced a hefty special financial fund totaling 10 billion yuan($1.48 billion) over five years for smart manufacturing.

By last year, the policies were working by attracting social investments of 37.3 billion yuan into 911 intelligence projects with 3.64 billion yuan delivered by the government.

On the basis of policies issued in 2018, to further boost the development of the intelligence industry, this year’s measures are targeted to cover even more areas with funding.

The money is expected to boost intelligence upgrades for manufacturing equipment, 5G industrial internet technology, emerging industries including robots and blockchain, and advanced innovation abilities.

To support manufacturing enterprises in the purchase of equipment for intelligent transformation, the government will offer 50 million yuan at most.

For scientific research institutes, technology innovation centers, key laboratories, and AI projects settling in Tianjin for development, a maximum of 30 million yuan will be given as a financial subsidy.

The real economy is gaining vitality from these technologies. A smart public transport big data platform by Tianjin TCPS Company is being widely used in more than 30 cities in China, creating a direct economic benefit worth 260 million yuan for enterprises.