Shenzhen is doubling down on AI innovation with a major cash injection—launching two new funds totaling 7 billion yuan (about US$1 billion) to boost local start-ups in AI and robotics. The announcement came during the city’s AI expo, signaling a big push to cement Shenzhen’s status as a tech hub.

Editor’s Note: This isn’t just about money—it’s a strategic move to keep Shenzhen competitive in the global AI race. With governments worldwide pouring resources into AI, Shenzhen’s funding could accelerate breakthroughs or attract top talent, shaping the next wave of tech innovation. For start-ups, it’s a golden opportunity; for rivals, it’s a reminder that China’s tech ambitions aren’t slowing down.

Hong Kong’s finance chief, Paul Chan, is pitching the city as a future hotspot for "patient capital"—long-term investments aimed at nurturing tech startups. The plan involves backing these companies with strategic partnerships and sustained funding, positioning Hong Kong as a global player in innovation.

Editor’s Note: This isn’t just about throwing money at startups—it’s a bet on Hong Kong’s ability to reinvent itself as a tech hub. With competition fierce from places like Singapore and Shenzhen, the city’s push for "patient capital" could attract entrepreneurs who need time to grow, not just quick cash. If it works, it might help Hong Kong stay relevant in a fast-changing global economy. If not, it’s another ambitious plan that fizzles. Either way, it’s a sign the city’s looking beyond finance and real estate for its next act.