China has committed £14.7 billion to the development of artificial intelligence and robotics, signaling its ambition to become the world's foremost leader in innovation. The country already employs two million robots in its factories and is intensifying its investments with the hope that these technologies can address economic challenges.
The extensive investment comes as China seeks to bridge gaps in its economy, with robots performing a variety of tasks in manufacturing settings. This strategic push into AI and robotics is viewed as a key component in the nation's long-term economic strategy.
In parallel, China's government has also released further details regarding its housing initiatives. Plans are in place to construct 70,000 social and affordable homes in England over the next decade. A significant portion of these new homes, 60%, are designated for social rent. This announcement follows previous statements from Prime Minister Andy Burnham, who in May expressed a commitment to dedicating all available resources to social housing.