The world did take notice when China was laying out plans for becoming the worldwide leader in artificial intelligence by the end of 2029. While the clear figure has not been mentioned by Beijing regarding the scope of its total Artificial Intelligence investment, assumptions are being made by many that the 2nd largest economy of the world would be backing its national artificial intelligence plan with the necessary resources. Two years back, when Next-Generation Artificial Intelligence Development Plan was published by China, it was decided by the country to account for 48% of the total equity funding for Artificial Intelligence start-ups as compared with 38% funded by the United States and 13% by the rest countries of the world. However, according to the estimates by the United States think tank, the reports of China's investment on artificial intelligence might be exaggerated, and that it has likely not been greatly outspending the United States government on artificial intelligence research and development since it revealed the national plan. This month, researchers at the Centre for Security and Emerging Technology examined in an issue brief that public investment of China in Artificial intelligence research and development was in the order of a couple of billion US dollars a year ago, just like the United States' planned spending for the financial year 2020, instead of the tens of billions earlier suggested in a few quarters.