Chinese shares close lower Thursday

Chinese stocks closed lower on Thursday, with the benchmark Shanghai Composite Index down 0.79 percent to 3,811.9 points.

The Shenzhen Component Index closed 2.07 percent lower at 12,620.9 points.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 3.15 percent to close at 3,036.66 points.

The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 4.55 percent lower at 1,732.58 points.

China's capital city Beijing has leveraged its upgraded municipal citizen service hotline system to fuel the growth of local artificial intelligence (AI) startups.

Communities now work closely with the 12345 hotline to solve issues before companies file a complaint. Using AI and big data, the system collects real-time feedback, analyzes corporate needs, and identifies recurring problems. These findings are compiled into special reports to help the government develop targeted solutions and foster a better business environment for tech startups.

The AI Genesis Community stands as a successful model for such cooperation.

Located in Beijing's Haidian district, it is one of the capital's first dedicated AI innovation zones and was ranked among the world's top 10 innovation districts last year. The area brings together top talent and tech startups adjacent to China's leading universities.

Local government services, such as the Beijing 12345 hotline, are empowering young AI entrepreneurs throughout their journey from initial establishment to scaled growth.

"I won the national championship at the 19th DEMO CHINA. After that, this community offered us big discounts on rent and other benefits, so that's how I moved my company here. I could just grab a coffee downstairs, and people would come up to me and ask if I was looking for investment. This community does more than just help us get started. As our business grows, it supports us at every stage," said Lin Xiuchun, founder of Jinghuamisuan Tech, which developed China's first encrypted AI conversation platform.

Song Chongguo, who recently launched the world's first contact-less retail station, turned to the community service center when he wasn't sure how to register his product.

"After we founded MeetaVista, we were preparing to launch our first smart retail station. We needed to register the product, but didn't know where to start with such a new product. Luckily, there's a service center here where we could get quick, face-to-face guidance and prepare the materials accordingly," said Song.

The AI Genesis Community follows a "10-minute rule," meaning entrepreneurs can reach partner AI businesses and access Beijing's 12345 hotline services within a 10-minute walk.

Last year, the hotline resolved more than 97 percent of requests, achieving a satisfaction rate of 97.7 percent. In Haidian District, around 1.3 million cases were handled, accounting for nearly 20 percent of Beijing's total.