China recorded US$40 billion in venture capital investment deals in 2017, a 14.3% increase from US$35 billion in 2016, buoyed by a flurry of massive investment in artificial intelligence and automobile technologies in the fourth quarter, according to a report by KPMG. Worldwide VC investments in AI almost doubled in 2017, attracting $12 billion of investment, compared to $6 billion in 2016.