A signing ceremony for an agreement on the establishment of the World Artificial Intelligence Cooperation Organization was held in Shanghai on Thursday.

Representatives from a total of 29 countries signed the agreement. Foreign Minister Wang Yi signed the agreement on behalf of the Chinese government.

The agreement stipulates that the independent, intergovernmental organization will be guided by the purposes of the United Nations Charter, uphold the principle of extensive consultation, joint contribution and shared benefits, and follow a people-centered approach.

READ MORE: China welcomes wider participation in global AI cooperation body

The organization aims to promote international cooperation and global governance in artificial intelligence, ensure the sound and orderly development of AI in a beneficial, safe and equitable direction, and bring benefits to all humanity.

Its headquarters will be in Shanghai.

The Foreign Ministry said earlier last year that the proposal to establish the organization was a practical move taken by China to practice multilateralism, reflecting the aspirations of the Global South. The aim is to unleash the dividends of AI, bridge the AI divide and ensure that AI is used for good outcomes, it said.