China Warns Against AI Investment Overheating, Vows Accountability for Massive Losses in Party and State Council Development Guidelines
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The Central Committee of the Communist Party of China and the State Council on the 9th issued development guidelines for high-tech industries including artificial intelligence. The guidelines explicitly state that if unplanned investment leads to major losses, those responsible will be held strictly accountable. While the move aims to accelerate industrial development amid the technology hegemony race with the United States, it also seeks to rein in an overheating initial public offering market. Amid growing international criticism over overproduction, the guidelines also call for correcting excessive domestic competition.