A new list of China's top 50 artificial intelligence companies indicates that the majority of them enjoy the backing of either the government or the country's incumbent tech giants. The China AI Top 50 Ranking was unveiled by China Money Network at the World Economic Forum in Tianjin, China on Wednesday. According to China Money Network founder Nina Xiang the report looked at more than 1,000 companies in the Chinese Ai sector and involved the participation of a broad range of industry experts. Companies were assessed on the basis of 12 items across five areas, including tech capability, maturity of products, fund-raising, business fundamentals and future potential. The report revealed that 27 out of the top 50 Chinese AI companies were backed by either government-associated funds or the leading tech giants of Baidu, Alibaba and Tencent.