Zhejiang province has unveiled a new policy package to accelerate artificial intelligence development, aiming for over 1 trillion yuan (US$138 billion) in core AI industry revenue from large-scale enterprises by 2027. The measures, effective from May 31 through end-2027, were outlined in a document issued by the provincial government.

The plan sets a near-term goal of establishing a nationally leading position in general AI technology and applications, with several globally competitive firms emerging from the province. By 2030, Zhejiang aims to achieve global leadership in both AI innovation and commercialization, with the sector’s large-scale revenue exceeding 1.2 trillion yuan.