(Yicai Global) Jan. 8 -- China invested over USD31 billion in artificial intelligence during over the first six months of this year, making up almost three quarters of the worldwide total.

The global figure was USD43.5 billion, according to China Academy of Information and Communications Technology. The country's AI sector has seen explosive growth in recent years.

China is home to 1,122 AI companies as of September, the second-largest share of the global total of 5,159. Beijing is home to the highest number with 445.

Despite the rapid growth, China's AI sector is not without its issues. Key challenges facing the sector include a lack of R&D players, especially for AI chips products.