On June 30, the Shanghai Quantum Computing Future Industry Incubation Zone was launched in the Xuhui District of Shanghai. The first group includes 26 unnamed companies, according to the South China Morning Post (SCMP).
Media reports indicate that support measures include up to 100 million yuan ($14.7 million) for fundamental research, technological innovations, and shared platforms. An additional 20 million yuan ($2.9 million) will be allocated for initial setups or prototypes. Subsidies for access to computing resources may also be available.
Journalists have identified Xuhui as one of Shanghai's artificial intelligence hubs, home to companies like StepFun AI, Shanghai Artificial Intelligence Laboratory, and MiniMax. Authorities aim to leverage the existing AI cluster to foster the growth of quantum companies, although specific collaboration formats have not been detailed.
Quantum technologies have been included in China's national priorities in the 15th Five-Year Plan for 2026–2030. In this context, cities are forming their own clusters around quantum developments.
According to SCMP, Shanghai authorities aim to increase the number of quantum companies in Xuhui to over 100 within three years. The publication also cites Hefei as one of the most developed centers in the sector, estimating over 90 specialized companies in the city as of last year.
In June, Chinese company SpinQ Technology announced the completion of a Series D funding round of 1 billion yuan (approximately $147 million) for the development of fault-tolerant quantum computers.