China is establishing a 1 trillion yuan ($138 billion) government-backed fund to enhance its competitiveness in emerging technologies, particularly quantum computing. This public-private partnership will focus on high-risk, long-term investments in sectors like AI, semiconductors, and renewable energy. China’s commitment to quantum technology has led to significant advancements, including powerful quantum computers and secure communication networks. The fund reflects China’s strategy to lead in key technologies amid global competition, especially against the U.S. and Europe, which are also increasing their investments in quantum research. This initiative aims to ensure long-term economic growth by prioritizing high-tech industries.