The Chinese government has announced the establishment of a new venture capital fund aimed at bolstering investments in emerging technologies. This initiative, which is projected to mobilize approximately 1 trillion RMB (around $140 billion) over the next 20 years, will focus on sectors such as artificial intelligence, quantum computing, and hydrogen energy storage. Zheng Shanjie, chair of the National Development and Reform Commission (NDRC), stated that the fund will be supported by contributions from local governments and private investors. The announcement highlights China's commitment to advancing its technological capabilities through substantial financial backing.