Bay Area

area: The artificial intelligence AI investment firm, founded by former Google China president Kai-fu Lee, also unveiled a new AI research institute for the Guangdong-Hong Kong-Macao Greater Bay Area, injecting fresh impetus into the national push to build the Greater Bay Area into a global technology innovation hub, according to Global Times China. With the announcement of the new headquarters, which will focus on investment in technology-driven companies, the digital transformation of traditional industries, and AI talent nurturing, the venture capital firm is set to ride the Bay economy wave. Photo Li Qiaoyi/GT Beijing-based venture capital firm Sinovation Ventures announced Wednesday its Greater Bay Area headquarters in Guangzhou, South China's Guangdong Province. The development of the Greater Bay Area, where the local manufacturing prowess is on track for upgrading, will give rise to an array of opportunities for new start-ups, said Tao Ning, president of Sinovation Ventures, at an event in Guangzhou. He noted that the local government has taken many steps to bolster the private sector, which has gained momentum amid the drive to develop the Greater Bay Area. The private-sector economy remains under downward pressure amid complex domestic and external conditions, stated Han Guoxu, deputy inspector of the Guangzhou Municipal Industry and Information Technology Bureau. (news.financializer.com). As reported in the news.