China's Party Central Committee and State Council tell officials to avoid tech bubbles, and will hold them to account for blind investment

On 9 October the Communist Party's Central Committee and the State Council issued guidelines on developing new quality productive forces, Beijing's term for growth led by advanced technology, Xinhua reported; Science and Technology Daily carried the full text, credited to Xinhua. The document is a broad industrial-policy paper rather than an AI rulebook, but AI runs through it.

It orders a full roll-out of the country's AI+ action. It calls for AI to transform traditional industries and for faster use of AI in new devices such as smart electric cars, AI phones and computers, and humanoid robots. It asks for a system of technology monitoring, risk warning and emergency response to keep AI safe, reliable and controllable, and for stronger governance of AI, biology and other fields.

The sharpest lines are about money. The text says development must not drift from the real economy into speculation, chase size for its own sake, or create bubbles. It tells officials at every level not to abuse policies in the name of new productive forces, and says those responsible for major losses caused by a herd-like rush or blind investment are to be held strictly accountable.

Reuters, in a story carried by The Standard, read the document as a pledge to curb investment bubbles while keeping AI risks in check. The guidelines give no spending figures or deadlines. The Switchboard ran China's AI jobs plan of 10 October; these guidelines did not run.

• Confirmed The guidelines say to fully implement the AI+ action (全面实施“人工智能+”行动). Xinhua
• Confirmed The text says development must not drift from the real to the virtual or create bubbles (不能脱实向虚、贪大求全、搞泡沫化). Xinhua
• Confirmed Officials responsible for major losses from a herd-like rush or blind investment are to be held strictly accountable (对一哄而上、盲目投资等造成重大损失的严肃追究责任). Xinhua
• Confirmed The guidelines call for a technology monitoring, risk-warning and emergency-response system to keep AI safe, reliable and controllable. Science and Technology Daily (Xinhua text)