China’s AI market revenue hit roughly RMB 467.8B, or about $64B, in 2023. That marked a 12% year-over-year increase.
The money pipeline
Total VC funding in China’s AI sector came in at approximately $15.3B across 450 deals in 2023, representing a 20% year-over-year jump.
Stanford’s 2026 AI Index puts a staggering figure on the table: $184B deployed by Chinese government funds into AI firms since 2000.
Morgan Stanley estimates that China’s core AI industry could balloon to $140B by 2030. The bank’s analysts project this growth could add 0.2 to 0.3 percentage points to China’s annual GDP growth.
