On July 19, KPMG China Chairman Zou Jun stated at the 2026 World Artificial Intelligence Conference that artificial intelligence has currently permeated various sectors of the real economy, rapidly transforming from a tool for enhancing efficiency to the core engine of economic growth. China's AI industry is actively positioned with diverse tracks and possesses supply chain advantages, leading to a rapid growth in the scale of related industries. A recent report released by KPMG during the conference pointed out that China has the most comprehensive industrial system in the world and a massive consumer market with over 1 billion internet users. The substantial industrial demand and consumption upgrades enable AI technology to achieve faster value transformation from laboratory to production line in the Chinese market. In terms of financing, KPMG data shows that embodied intelligence, as a major development direction for large model applications, has experienced rapid growth since 2025. The financing amount for embodied intelligence reached $11.17 billion in 2025, a year-on-year increase of 152.0%; the number of financing rounds was 670, up 81% year-on-year. In the first quarter of 2026, the financing amount reached $5.03 billion, a year-on-year increase of 182.9%; the number of financing rounds was 203, up 55% year-on-year. (The Paper)
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KPMG China Chairman: AI is Accelerating to Become the Core Engine of Economic Growth
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