China to build $2 billion AI research centre in Beijing

As reported by Reuters, the project was revealed in an article by China's official Xinhua news agency this week. The research centre will be located towards the west of Beijing, in the city's Mentougou district. The extensive complex will be large enough to house over 400 enterprises developing new AI-based technologies. China expects the facility to be a substantial contributor to the local economy. When it's fully operational, annual output could be up to 50 billion yuan, around $7.7 billion.