Zhejiang sets 1.2t yuan AI industry target for 2030

East China's Zhejiang province is targeting 1.2 trillion yuan ($177.24 billion) in annual revenue from its core artificial intelligence industry by 2030, backed by plans to expand computing capacity, strengthen open-source innovation, and accelerate the use of AI across the real economy, the province's development and reform commission revealed at a media briefing on Monday.

Data released at the briefing showed that revenue from Zhejiang's core AI industry reached 713.1 billion yuan in 2025, up 20 percent year-on-year. In the first five months of 2026, the figure rose 23.6 percent year-on-year to 338.4 billion yuan, while the number of core AI companies increased to 2,065.

The province has formed a generally complete industrial chain spanning chips, foundation models, AI agents, and application services, the authorities said.

In terms of computing power, Zhejiang currently has 194 EFLOPS of operational computing capacity, with intelligent computing accounting for more than 96 percent of the total. The province's intelligent computing capacity is expected to reach 483.76 EFLOPS by the end of 2028.

lijiaying@chinadaily.com.cn