On September 8th, 2024, the International Investment Forum 2024 was held in Xiamen, Fujian Province. China Investment Corporation (CIC) co-hosted a subforum themed "Integrating Innovation, Initiating the Future with Intelligence" along with China International Capital Corporation Limited (CICC). The International Investment Forum 2024 was hosted by the People's Government of Fujian Province and Xiamen Municipal People's Government, and was held concurrently with the 24th China International Fair for Investment and Trade.

Mr. LING Ji, Vice Minister of Commerce and Deputy China International Trade Representative, stated in his speech that artificial intelligence (AI) is a significant driving force in the new round of technological revolution and industrial transformation. China's AI market is vast, with numerous application scenarios and rapid industrial development, offering a broad prospect. The development of AI is not only about technological and application advancements but also requires the establishment of an open-minded, fair, and effective governance mechanism. The Chinese government is continuously promoting high-level opening-up, canceling foreign equity ratio restrictions for value-added telecommunications services such as Internet Data Centers (IDC) in pilot areas like Beijing and Shanghai, and is about to fully lift foreign investment access restrictions in the manufacturing sector, continuously optimizing the environment for foreign investment and expanding the scope of encouraged foreign investment. It is hoped that participating institutions will strengthen exchanges and cooperation in the field of AI, increase investment and financing support for AI development and application, and invest in China for the long term to share in the development dividends.

Mr. LIU Haoling, President of CIC, stated that the current global technological innovation has entered into a period of intense activity, continuously giving birth to new products, industries, and business forms. China's vast consumer market, high-quality human resources, and complete industrial system provide a broad space for investment and technological application in the field of AI. The sub-forum, with the theme of "Integrating Innovation, Initiating the Future with Intelligence", echoes the trend of achieving technological innovation through the "integration" of multiple industries, providing an excellent exchange and communication platform for domestic and foreign investment and AI industry professionals. It is expected that the sub-forum will promote cooperation and development for a shared future among participating institutions, contributing to the advancement of technology and the development of the world economy.

Mr. CHEN Liang, Chairman of CICC, stated that the new round of global technological revolution and industrial transformation represented by AI is accelerating, injecting new momentum and vitality into the world economy and capital market. China has certain advantages in the field of AI, which are expected to help China's transition from catching-up innovation to leading innovation, and from traditional manufacturing to intelligent manufacturing. CICC will continue to leverage its integrated strengths in "investment + investment banking + research," and work with global clients and all sectors of society to actively contribute to technological innovation and the development of new quality productive forces.

During the keynote speech session, Andrew Sillitoe, Co-CEO of Apax Partners, Robert Smith, Founder, Chairman, and CEO of Vista Equity Partners, Kevin Sneader, President of Goldman Sachs Asia Pacific Ex-Japan and Member of the Global Management Committee, and Peng Wensheng, Chief Economist of CICC, shared their opinions on topics such as the future development trends of AI, how to invest in the field of AI, the application of AI in investment, as well as "AI Economics." The speakers believed that AI technology has been advancing rapidly in recent years, reshaping the business models and even industrial structures of related industries, bringing abundant investment opportunities. It is recommended that relevant investment institutions focus on investment opportunities in AI and its upstream and downstream industries, such as models, data, computing power, and energy supply.

In the two roundtable discussions on "Global AI Industry Development and Investment and Financing Trends" and "Prospects and Outlook for AI Application in Industries in China", representatives from renowned domestic and international investment institutions and industrial enterprises such as Blackstone Group, Goldman Sachs, Apollo, Vista, Apax, Thoma Bravo, Walgreens Boots Alliance, ARTE Capital, Xianghe Capital, and ZhiPu had in-depth discussions on topics such as global AI industry investment prospects, AI applications in financial institutions, and AI related investment themes in Asia and China. The guests agreed that AI technology has been widely applied around the globe in fields such as network security, enterprise software, autonomous driving, and pharmaceutical research, and is playing an increasingly important role in investment decision-making in financial institutions. In recent years, China and some other Asian countries have introduced a series of effective support policies to promote AI research, development and application, giving birth to a number of outstanding enterprises, with broad future prospects.

Ms. JIANG Erxiong, Vice Governor of Fujian Province, and nearly a hundred representatives from Chinese government departments and leading global investment institutions attended the subforum. Mr. BAO Jianmin (Member of the Executive Committee of CIC), Mr. CHEN Chao (Head of the CIC Research Institute), and Mr. WANG Shuguang (Member of the Management Committee of CICC) respectively moderated the forum's keynote speech and two roundtable discussions.