Anhui has rolled out a package of measures to speed up the development of an industrial cluster dubbed “China’s Sound Valley”, according to a document released recently by the local government.
Located in the Hi-tech Zone in Hefei, capital of the eastern Chinese province, the intelligent speech industrial cluster aims to earn business revenues of 100 billion yuan (US$15.2 billion) in 2020, an annual increase of 40 percent on average.
To achieve that target, the local government will give priority to companies based in the sound valley in enjoying subsidies while building innovation platform and attracting talent.
The maximum subsidy will reach as much as 30 million yuan, the document showed.
In addition, a fund of 5 billion yuan will be set up to support programs related to intelligent speech and artificial intelligence (AI).
Jointly built by the Ministry of Industry and Information Technology of China and the Anhui provincial government, “China’s Sound Valley” is the country’s sole AI industrial hub. As of July 2017, about 100 companies including iFlytek and Huami settled there.