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China's financial hub, Shanghai, plans to significantly increase its investment in specialised technology, including chip design, circuitry and artificial intelligence, as part of its effort toward tech self-reliance. The city plans to provide investment help for certain qualified semiconductor projects with up to 100 million yuan ($14.47 million) in support. The ambition is to enhance industrial development and speed up the construction of modern industrial systems.
Shanghai's ambitious goal reflects China's broader plan to become a world leader in high-tech innovation, despite trade tensions and concerns about intellectual property rights.
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