Shenzhen AI Industry Association White Paper: China’s AI Industry Grew 16.7 Percent YoY in 2020

According to the “2021 Artificial Intelligence Development White Paper” released by Shenzhen AI Industry Association, in 2020, the scale of China’s key AI industry reached RMB 325.1 billion (USD 50.75 billion), a year-on-year increase of 16.7 percent. The amount of financing amounted to RMB 89.62 billion (USD 13.99 billion), with 467 financing events and the single largest transaction of RMB 190 million (USD 29.66 million), a year-on-year increase of 56.3 percent. As of the end of 2020, the number of AI-related companies in China has reached 6,425; among them, 22.3 percent are categorized as infrastructure providers, 18.6 percent technology providers, and 59.1 percent application providers.