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Compared to apreliminary draftreleased in April, the published version, which is being called “interim measures,” appears to have relaxed several previously announced provisions, suggesting Beijing sees opportunity in the nascent industry as the country seeks to re-ignite economic growth in order to create jobs.

Last week, regulatorsfinedfintech giant Ant Group just under $1 billion, in a move that appeared to finally close a chapter on a wide-ranging regulatory crackdown centered around China’s tech giants. Many of them — including Alibaba(BABA), Baidu(BIDU)and JD.com(JD)— are now in the process of launching their own versions of AI chatbots.

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China also urges platforms to “participate in the formulation of international rules and standards” related to generative AI, it said.

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Best Stocks for Retail Investors in India Stock Tips From Market Professionals ✌️【Market Analyst】✌️ Receive expert stock predictions with real-time updates on global market trends, including stock indices, futures prices, and forex fluctuations. Use our insights to improve your investment strategies and boost your returns. The service hasexploded in popularityin recent months, and Chinese tech companies have been racing to release their own versions, prompting some critics to predict that the trend will add fuel to an existing US-China rivalry in emerging technologies.

In the global race to build guardrails for how governments tap AI, China had gained a significant head start, US Senator Mark Warner warned last month. China is “very much ahead of the game,”he toldPolitico’s Global Tech Summit.

Chinese companies appear to be waiting for the updated rules to be issued before officially rolling out their ChatGPT-style services to the public.

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“The way China approaches AI regulation will likely be consistent with its approach to regulating other areas of prominent technology, such as internet or social media, where it operates strict censorship to control the flow of information,” Citi analysts said in a research note earlier this week.

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