The First China Artificial Intelligence Summit takes place in Xiamen, in Fujian province, on Aug 9. [Photo/sunnews.cn]

The China Artificial Intelligence Competition will settle in Xiamen in East China's Fujian province permanently, according to an announcement made at the First China AI Summit which opened in Xiamen on Aug 9.

The competition is the first large-scale competition in the AI field to be held in China. The results of the first AI competition were released during this year's AI summit. A total of 362 teams signed up to participate in 995 subjects this year.

Organizers said the AI summit yielded fruitful results. Three projects were signed off for financing, and 10 agreements were inked for projects to settle in Xiamen.

The 10 projects aim at the new generation of information technologies such as big data, AI and the internet of things, which will further extend Xiamen's digital economy industry chain, strengthen its innovation chain and enhance its value chain, according to the organizing committee.

They added that Xiamen has three major advantages in developing its AI industry -- industrial agglomeration, innovative resources and an innovative business environment. The scale of the city's digital economy accounts for 41 percent of the province's total, and it is home to nearly 200 AI-related enterprises.