Chinese Leaders Target Ascent As A ‘Technology Power’

BEIJING: Chinas leaders vowed Thursday to speed up its development as a self-reliant technology power as a feud with Washington cuts access to U.S. components and hampers Beijings industrial ambitions.

Leaders of the ruling Communist Party leaders made the announcement as they ended a meeting to draft a development blueprint for the state-dominated economy over the next five years.

President Xi Jinpings government is trying to limit damage from the Trump administrations curbs on sales of processor chips and other technology to Chinese companies in a fight over security and spying. Those threaten to disrupt plans to create Chinese competitors in telecoms, biotech and other fields. The communist leadership views that as a path to prosperity and global influence.

Science and technology should be self-reliant as a strategic support for national development, said a party statement. It called for measures to accelerate the building of a science and technology power but gave no details.

Five-Year Plans, issued since the 1950s, form the basis of regulation and industry initiatives in an economy which the ruling party still plays a leading role after four decades of market-style reform. The full plan is due to be released in March. Changes in regulation and plans for individual industries will be announced after that.

Thursdays statement also promised to promote green and low-carbon development and to raise the Chinese publics living standards.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get in Touch

350FansLike
100FollowersFollow
281FollowersFollow
150FollowersFollow

Recommend for You

Oh hi there 👋
It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

We don’t spam! Read our privacy policy for more info.

You might also like

Cody Garbrandt Vs. Raphael Assuncao Odds And Predictions For...

Cody Garbrandt heads into a bout with Raphael Assuncao...

U.S. Army Soldier Charged With Helping Neo-Nazis Plan Deadly...

TOPLINE The Department of Justice on Monday unsealed an indictment of a U.S. Army...

China’s economic recovery underwhelms as consumer comeback stays elusive

BEIJING China’s retail sales slipped in July, dashing expectations for a modest rise,...