China's SOEs embrace 'AI+' for higher growth, efficiency: authorities

China's State-owned Assets Supervision and Administration Commission (SASAC) on Monday announced significant progress in its "AI+" initiative for centrally-administered state-owned enterprises (SOEs) in the pursuit of higher growth and efficiency, with over 500 application scenarios already deployed across key industries.

At a briefing, SASAC revealed that its "AI+" initiative is yielding positive results in crucial areas of the AI industry, including applications, computing power, data, and models. The initiative has involved the rollout of specific support policies and specialized AI training programs for SOEs.

"We currently have applications deployed in an layout of over 500 scenarios in key industries such as industrial manufacturing, energy, power grids, and intelligent connected vehicles. AI is significantly improving efficiency and reducing costs in areas like scientific-technological research, production and customer service. We have also actively guided two batches of centrally-administered SOEs to open application scenarios to society to build cooperation platforms," said Dai Xi, director of SASAC's Planning and Development Bureau.

The briefing highlighted that centrally-administered SOEs have amassed high-quality datasets in key sectors like transportation and logistics, financial services, green and low-carbon initiatives, industrial manufacturing, and the petroleum and petrochemical industries. They have also participated in the construction of multiple data annotation bases and invested in data companies that use specialized and sophisticated technologies to produce novel and unique products. Furthermore, a new centrally-administered SOE, China Shulian Logistics Information Co., Ltd., has been established to explore innovative models for the development and utilization of public data.

At the briefing, SASAC officials indicated that the "AI+" initiative will continue to be deepened throughout the year.

"We will focus on high-value scenarios with strong strategic significance, high economic returns, and close ties to people's livelihoods, to strengthen industry collaboration, expand openness and cooperation, and strengthen the deployment of scenarios. Centrally-administered SOEs will definitely increase their financial investment, adhere to a combination of production and investment, and use investment to promote production, and continue to expand long-term, strategic and patient capital for greater development of AI," Dai said.

China's SOEs embrace 'AI+' for higher growth, efficiency: authorities

Russia and the United States have agreed to ensure the implementation of the Black Sea Initiative, provided that sanctions were eased on Russia's agricultural and food trade, the Kremlin said Tuesday.

The Kremlin said the agreement includes ensuring the safety of navigation in the Black Sea, the non-use of force, and preventing commercial ships from being used for military purposes, with inspections in place to enforce this.

It also added that the United States will help in restoring Russia's access to global markets for agricultural and fertilizer exports, lowering shipping insurance costs, and improving access to ports and international payment systems.

The agreement will enter into force after a series of sanctions and restrictions related to its agricultural and food trade were lifted, the Kremlin noted.

The move would include lifting Western sanctions on the Russian Agricultural Bank, which services agricultural businesses, and reconnecting the bank to the SWIFT international messaging system.

Russia has also listed in the conditions the removal of restrictions on its food and fertilizer producers and exporters, on the servicing of related Russian-flagged vessels in ports, and on the related agricultural machinery supplies to Russia.

The Kremlin statement came after Russian and U.S. representatives wrapped up their Monday's talks in Riyadh, capital of Saudi Arabia, where both sides sought arrangements for the safety of navigation in the Black Sea.

Russia and Ukraine signed separately with Türkiye and the United Nations the Black Sea Grain Initiative in Istanbul in July 2022, which secured the export of Ukrainian grain and other agricultural products from Black Sea ports.

As a parallel agreement, Russia and the UN signed a memorandum of understanding on the facilitation of Russian food and fertilizer exports.

On July 17, 2023, Russia suspended its participation in the Black Sea deal, citing unfulfilled commitments to the Russian part.

Kremlin says Russia, U.S. agree to ensure implementing Black Sea initiative