"Let the robot preview, observe, practice, and summarize like a human being, and ultimately realize autonomous learning and evolution, so that humans no longer need to write skills for it..." On the afternoon of September 12, at the Nanjing International Expo Center, at the "Artificial Intelligence + Semiconductor" sub-forum of the 2026 (26th) China Venture Capital Forum, Fangqi Technology founder Wang Xinzhou promoted a set of robot intelligent operating systems based on the Turing learning paradigm.
The scene of the "Artificial Intelligence + Semiconductor" sub-forum of the 2026 (26th) China Venture Capital Forum. Photo by Luo Luqiao
Sitting next to him, Liu Bo, general manager and managing partner of TusStar (Beijing) Investment Management Co., Ltd., is an angel investor in this company that was founded just over half a year ago. Liu Bo said that Fang Qi's Turing learning paradigm impressed her: "This group of young people are trying to use small sample data to achieve generalization of environmental perception, which is especially valuable at the moment when 'everyone is spending money to buy data.'"
The China Venture Capital Forum, hosted by the Central Committee of Democratic National Construction Association, began in 1999 and is now in its 26th session. It has gradually become a two-way platform for venture capital and emerging industries. Zhang Jun, deputy chairman of the Shanghai Pudong District Committee of China Democratic National Construction Association and chief economist of China Galaxy Securities, who has been a guest speaker for two consecutive years, said that the forum conveys central policy guidance to practitioners as soon as possible, promotes precise coupling of capital, technology, projects, and regions, and transforms social capital into innovation momentum.
This forum, with the theme of "Opening New Business, Cultivating New Quality, and Creating the Future", attracted more than 500 participants from enterprises, funding institutions, and academic fields. Coinciding with the beginning of the "15th Five-Year Plan", the wave of artificial intelligence is accelerating to reshape the industrial structure. Where the venture capital will go has become the focus of the participants.
"Future industries and AI industrialization will become the core main line of venture capital, with cutting-edge tracks such as quantum technology and humanoid robots coming to fruition, and AI investment turning to industrial applications." Commissioned by the Central Committee of Democratic National Construction Association, Shanghai Jiao Tong University's China Financial Research Institute has compiled the "China Venture Capital Development Annual Report" (referred to as the "Report") for four consecutive years and released it at the forum. Experts attending the meeting interpreted that "investing early, investing small, and investing in hard technology" will become the mainstream of the industry, and embodied intelligence is one of the popular tracks.
Liu Mingda, deputy director of the China Electronics Information Industry Development Research Institute, used a set of data to summarize the hot popularity of embodied intelligence: In 2025, there will be more than a hundred more disclosed financing incidents for domestic humanoid robots than in 2024, and the net amount disclosed will exceed 10 billion yuan. He said: "With the empowerment of artificial intelligence, traditional industrial models and corporate organizational forms are undergoing profound changes. If we can take the lead in finding a new path in combining technology and finance, we can provide reference for the world."
In fact, policy and government efforts have already been made. Xu Bin, general manager of the National Venture Capital Guidance Fund Co., Ltd., said that the Guidance Fund will invest no less than 70% of the funds in seed-stage and start-up stage companies, which will allow more start-ups anchored in "hard technology" to receive financial support. The National Venture Capital Guidance Fund will be officially launched in December 2025. The relevant person in charge of the Ministry of Finance predicts that through hundreds of billions of fiscal funds, trillions of social capital will be mobilized.
She Ziwei, member of the Standing Committee of the Jianye District Committee of Nanjing and Minister of the United Front Work Department, took Nanjing Hexi Central Science and Technology Innovation Zone as an example and pointed out that more than 200 urban application scenarios, such as driverless minibuses and fire inspection robots, have been opened to provide real environment test iterations for scientific research results.
The perception of the front line of the industry is the most intuitive. Fan Deyao, ByteDance Volcano Engine Intelligent Product Director, said that China's "Token economy" has entered scale, and AI is moving from personal tools to organizational-level production processes. The key to operational intelligence is to connect data, knowledge, tools and business actions into a closed-loop link.
Investors also responded positively and pragmatically. Li Yuanyuan, chairman of Jiangsu Xinhua Fengyu Capital Management Co., Ltd., is more concerned about how the technology is implemented. She said, "Don't look at the PPT, don't look at the concept, look at the order." Customers actually use payment to show their recognition of the technology.
When financial "living water" accurately nourishes the flowers of technological innovation, innovation incubation projects can truly grow into "tomorrow's technology" and "the day after tomorrow's core industry." Through the China Venture Capital Forum, we can clearly see that in the era of AI, industry, investment and technology are moving towards a "new" symbiosis.
