CHINA—China is planning to invest a total of $4.4 billion over the next two years in US-based technology companies to improve education and skills, according to a document published by the country’s top education official.
In a draft report, the Ministry of Education said the money would be used to expand the countrys educational system, which currently ranks about 29th in the world, and to promote and finance research and development in fields such as AI, robotics and digital technologies.
It did not provide further details on the scope or funding of the investment or say how much of the funds would go to US-focused firms.
The announcement came a day after President Xi Jinping and his wife visited Silicon Valley and spoke at a high-tech conference in San Francisco.
Xi has made education a key focus of his rule and has sought to bolster the country s technological prowess.
He has also sought to spur the creation of hundreds of thousands of new jobs in the US, a trend that has made China a major player in the global economy.
