Xi Jinping pushes AI cooperation, crypto off the agenda at China summit

Xi Jinping appeared in person at the World Artificial Intelligence Conference in Shanghai on July 17, his first physical attendance at the event since it launched in 2018. He called for international cooperation in AI development, warning against any single nation controlling the technology and urging the world to avoid what he termed “new historical injustices.”

China committed to providing 5,000 AI training slots to developing countries over the next five years. The conference, which runs through July 20, also includes a High-Level Meeting on Global AI Governance dedicated to building collaborative frameworks for regulation and deployment.

The four-day event made no mention of cryptocurrency, blockchain, or digital assets. China banned crypto trading and mining in 2021 and has since focused its technology ambitions on AI and its central bank digital currency.

The 5,000 training slots are likely to go to Asian and African countries, potentially boosting partnerships for Chinese AI firms. If China’s model of centralized AI governance gains traction in those nations through the training programs, it could shape regulatory environments that are similarly hostile to decentralized technologies.

The conference ends July 20. Market participants watching the crypto market analysis note that China’s absence from the crypto space, combined with its AI push, reinforces the divergence between the two technology tracks.