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Chinese electric car startup Nio saw its first ever positive cash flow from operations in the second quarter this year since its establishment in 2014, said its founder and CEO William Li on Tuesday.

Chinese authorities have explored funding infrastructure and public works through PPP models since late 2013, amid growing concern over rising local government debt incurred through local financing vehicles.

Chinese financial giant Ping An Insurance (Group) Co will spend more than 7.77 billion yuan (.16 billion) on technology research and development this year, and artificial intelligence will be the focus of that R&D, according to a senior executive of the company.

Chinese people spent 1 billion yuan (7 million) last year on medical treatment and medicine in foreign countries and the figure will continue to rise in the next five years, according to Analysys, a third-party research consultancy.

Chinese giants such as Huawei and Alibaba have established their R&D centers in Israel, and some Chinese funds are also active in investing in Israeli start-ups.