Beijing State-owned Capital Operation and Management Company recently established four funds totaling 50 billion yuan (about US$7 billion) to support the industries of medicine and healthcare, artificial intelligence, robotics, and information technology. The aim is to help the capital city to become an international sci-tech innovation center.

The investment will come from the municipal government and private capital, with the former contributing no more than one third of each fund.

The fund to support the city's medicine and healthcare industry will be 20 billion yuan, with focuses on key sectors such as innovative medicine and medical devices, and emerging fields including digital medical treatment and cell and gene therapies.

The 10-billion-yuan fund for AI development will be used to build AI chips, develop large language model algorithms, as well as train data and software.

A total of 10 billion yuan will be spent on equity investment in robotics, supporting the development of robots and creating new applications of industrial chains.

Another 10-billion-yuan fund is set up to boost the development of the information technology industry with focuses on major sectors such as industrial internet, information security, and Web 3.0.

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