Vimicro, a pioneer in developing homegrown chips in China, will launch a new artificial intelligence-enabled processor this year to promote the use of AI in video surveillance, said Deng Zhonghan, chief scientist of the Beijing-based company, on Thursday.

The move is part of China’s broader push to develop homegrown semiconductor industry, in the hope of reducing reliance on foreign companies.

China spends more than $200 billion to import chips every year, more than the amount spent on crude oil imports, said Deng, who is also a member of the 13th National Committee of the Chinese People's Political Consultative Conference.

According to Deng, also an academician of the Chinese Academy of Engineering, the company’s new AI processor features low-power consumption and super-fast speed.

The company’s existing AI chip is already used by the Ministry of Public Security in its video surveillance system. The two sides have drafted a national standard on the use of such AI chips in video monitoring, Deng said.