Nvidia CEO highlights China's "significant software capabilities" in race for AI

Nvidia's long-held partnerships with Chinese companies have given the tech giant unique insight into China's potential to contribute to the development of AI, said its founder and CEO Jensen Huang on Thursday.

During a meeting with Ren Hongbin, chairman of the China Council for the Promotion of International Trade in Beijing, Huang stressed that Nvidia will continue its fruitful cooperation with Chinese companies in this regard.

"It is the case that the world has a significant race in AI. Countries are racing to adopt, develop and advance their capabilities in AI. The impact, of course, to us is significant, the impact to the market here. Most people don't realize the significant software capabilities and the dynamism of the Chinese market. Because of our interactions and working and serving with Chinese companies here, and so it's made us both better," said Huang.

For his part, Ren highlighted the Chinese government's commitment to supporting foreign companies.

"We've established a very special task force serving especially foreign-invested companies. So, I think that is also a strong gesture from the Chinese government to help foreign companies to grow and develop here in China. It is always an effort from the government to foster the market-oriented and robust market here for foreign companies," he said.

On the sidelines of the meeting, Huang emphasized that AI is bound to bring about huge changes across multiple industries, noting that the impact has already began to show.

"We are seeing AI already making quite significant impacts in many different areas. For example, in software programming, almost all of the NVIDIA employees today use artificial intelligence to assist in software programming. We use AI in doing research, we use AI for designing chips, we use AI for supply chain management. And so, artificial intelligence is already making a very significant impact in many industries. But this is just the beginning. [In] every industry, AI will make a big impact," Huang said.

Nvidia CEO highlights China's "significant software capabilities" in race for AI

Nvidia CEO highlights China's "significant software capabilities" in race for AI

Nvidia CEO highlights China's "significant software capabilities" in race for AI

Nvidia CEO highlights China's "significant software capabilities" in race for AI

Nvidia CEO highlights China's "significant software capabilities" in race for AI

⁠⁠⁠⁠⁠⁠⁠China's natural gas production is projected to reach 300 billion cubic meters by 2030, according to a development report released in Beijing.

The report, covering the development of China's oil and gas industry during the country's 14th Five-Year Plan period (2021–2025), said proven geological reserves rose by 7 billion tons of oil and 7 trillion cubic meters of gas, up 43 percent and 40 percent respectively from the previous five-year period. Oil and gas production hit record highs.

"The oil output is likely to reach between 215 and 216 million tons this year. Natural gas has seen major growth during the 14th Five-Year Plan period (2021–2025), with annual domestic output rising by nearly 13 billion cubic meters. In the 15th Five-Year Plan period (2026-2030), we expect annual increases of more than 10 billion cubic meters, reaching 300 billion cubic meters around 2030," said Wu Mouyuan, deputy director of the Economics and Technology Research Institute of China National Petroleum Corporation (CNPC).

The report forecast that China's energy structure will feature less coal, stable oil and gas, and rising non-fossil fuels over the next decade.

By 2060, fossil fuels are expected to account for 23 percent of the energy mix, hydropower and nuclear 19 percent, wind 25 percent, and solar 30 percent, the report said.

"In the next five years, through the integrated development of fossil energy and renewables, we will achieve a heathy, stable, and resilient energy system. Clean energy will continue to grow rapidly. More than 90 percent of renewable energy will be consumed via electricity, so the electrification at end-use sectors is a key direction of transformation in the future," said Wu.

With the rapid growth of artificial intelligence and new high-energy industries, China's power demand will exceed 20 trillion kilowatt hours by 2060, double the 2025 level. Electrification at end-use sectors is expected to reach 62 percent, rising by nearly one percentage point annually, the report projected.

China to see gas output hitting 300 bcm by 2030: report