China Captures 15% of the World’s Artificial Intelligence Companies

China has witnessed an unprecedented boom in the field of artificial intelligence (AI). According to data from the Chinese Academy of Information and Communications Technology, the country now hosts over 5,300 AI-related companies as of the end of September, representing about 15% of the global total.

The figures highlight a rapid expansion, with the sector’s market value exceeding 900 billion yuan (approximately $126.7 billion) in 2024 — marking a 24% year-on-year increase. This strong growth reflects China’s ambition to cement its position as a global hub for technological innovation.

China’s AI industry stands out for its fully integrated ecosystem, covering infrastructure, model development, and industrial applications. In 2024 alone, these three segments recorded significant growth, ranging between 13% and 54%.

The expansion is not limited to software and services; it also includes smart devices such as AI-powered smartphones, computers, and vehicles, which are seeing rising demand both domestically and internationally.

Beijing aims to build on this momentum through a national strategy called “Artificial Intelligence Plus”, introduced earlier this year. The initiative seeks to strengthen digital infrastructure and accelerate the integration of AI technologies across all economic and social sectors — part of a broader transformation toward an intelligent economy that will drive the nation’s future growth.