China's Computing Card Market to Reach 1.44 Trillion Yuan by 2029 as AI Funding Surges
Updated
Updated · Global Times · Jul 12
China's Computing Card Market to Reach 1.44 Trillion Yuan by 2029 as AI Funding Surges
2 articles · Updated · Global Times · Jul 12
Summary
1.44 trillion yuan ($212 billion) — that is the projected size of China’s domestic computing card procurement market by 2029, according to a forecast cited by China Media Group.
Surging demand for computing power is driving the outlook, with investors treating chips and computing networks as core infrastructure for AI commercialization and the broader digital economy.
300 billion yuan in financing flowed to Chinese AI start-ups in the first half of 2026, already exceeding all of 2025; MiniMax alone raised HK$16 billion, while Moonshot AI sought fresh funding at a $31.5 billion pre-money valuation.
A semiconductor-focused investor cited by CMG said a 250 million yuan early investment in a GPU chip company has returned 150 times, reinforcing expectations that major listed AI firms could emerge.
Policy support is adding momentum: China’s 2026 Government Work Report pledged more funding and risk-sharing mechanisms for future industries, including embodied AI, quantum technology and 6G.