According to a report by TASS on December 11, Russian President Putin stated at the "AI Journey" international conference on the 11th that China is making great strides in technological development. The report states that Putin pointed out during a dialogue with Song Haitao, director of the Shanghai AI Research Institute, that "China is making great strides in the most important tools for technological development and application. Of course, the AI that you are studying is one of the most important tools." Song Haitao informed Putin that the Shanghai AI Research Institute plans to sign a cooperation memorandum with the Russian Federal Savings Bank to promote technological research in the field of AI. Putin said, "I heard that you are going to sign with the Russian Federal Savings Bank, and I am very pleased. I believe this is meaningful for both you and the Russian Federal Savings Bank." (Global Network)