China’s ‘brain chip’ drive accelerates with slew of state-backed initiatives

For years, Elon Musk has dreamed of conquering a range of chronic health conditions by inserting computer chips into the human brain. But that vision could become reality fastest in China, where state authorities are launching a coordinated effort to accelerate the nascent industry’s development.

The past few days have seen a string of initiatives related to brain-computer interfaces (BCIs) announced in China, involving parties ranging from state insurance companies to investment banks and local governments.

On Wednesday, PICC Property and Casualty – a major state-owned insurer – announced it had signed the nation’s first commercial insurance policy covering the invasive surgery often needed to implant a BCI in a patient’s brain.

The news sent ripples through the markets, with BCI-linked stocks in Hong Kong climbing as investors bet the insurance breakthrough would help speed up the technology’s commercialisation.

Shares of BCI-related companies rose by 1.59 per cent on Wednesday. Shanghai Heartcare Medical Technology, a maker of neuro-interventional medical devices, was up 1.28 per cent, while software developer BrainAurora Medical Technology rose 1.65 per cent.

PICC Property and Casualty has launched its scheme in partnership with a hospital affiliated with the Zhejiang University School of Medicine in Hangzhou, a tech hub in eastern China home to leading start-ups including AI firm DeepSeek and humanoid robot pioneer Unitree Robotics.