(Yicai Global) Dec. 2 -- Shanghai has attracted over 1,100 artificial intelligence companies with a total output value of CNY130 billion (USD18.5 billion) to set up shop in the eastern city, according to a local think tank. 

The city also has over 700 core firms in the Big Data sector, with a total valuation of CNY200 billion, the Shanghai Municipal Development Research Center of Economy and Informatization said in a report published today. 

Shanghai's urban outdoor public places have already been fully covered by fifth-generation wireless networks, the report added. The average download speed is at the forefront among Chinese cities, reaching 41.95 megabits per second.

Editor: Emmi Laine