China used the "Next Generation Artificial Intelligence Development Plan" in 2017 to kick off how it aims to build a domestic industry worth almost US$150 billion to surpass the rest of the world as a global AI innovation hub by 2030. The first step of that plan is to catch up with the US on AI technology and applications by 2020. China now dominates AI funding. Last year, 48 per cent of total equity funding of AI start-ups globally came from China, compared to 38 per cent funded by the US, and 13 per cent by the rest of the world. This is a significant jump from the 11.3 per cent of global funding China made in 2016.