Advertisement
China’s private sector
TechTech Trends

Shanghai unveils quantum computing hub as China races for tech supremacy

The zone is set to provide up to 100 million yuan to fund research and development of the technology

2-MIN READ2-MIN
Listen
The district of Xuhui in Shanghai. Photo: Shutterstock
Ben Jiangin Beijing
Shanghai is stepping up its push into quantum computing by launching a dedicated industrial hub in the city, bringing together a group of companies to accelerate the development of the emerging technology and compete with other Chinese cities that have established quantum industry clusters.

The Shanghai Quantum Computing Future Industry Incubation Zone, launched on Tuesday in the city’s Xuhui district, has attracted an initial cohort of 26 quantum firms. The zone would offer resources, talent and subsidies to expedite a shift from laboratory research towards a full-fledged industrial ecosystem for quantum computing, according to a report by the state-backed Jiefang Daily.

The incubation zone would also provide up to 100 million yuan (US$14.73 million) to fund foundational research, technology innovation and platforms. Up to 20 million yuan would be available for companies developing their first products, alongside computing resource subsidies to help “bring down companies’ computing and validation costs”, the Jiefang Daily report said.

Shanghai would intend to use the industrial hub to strengthen its position in quantum computing by integrating research institutions, start-ups and downstream applications, from biomedical research to financial technology, according to the report.
Select Voice
Select Speed
1x
AI-generated voice