Top Chinese leaders pledged to accelerate the country’s self-reliance and energy independence in the wake of the Iran war.
The announcement, following this month’s meeting of the Politburo of the Communist Party, prioritized the “construction of water, power, and computing infrastructure,” the South China Morning Post said.
Beijing has been somewhat insulated from the conflict’s fallout thanks to its oil stockpile and aggressive push for renewables, but experts say it could be squeezed as a result of slowdowns in its key export markets. A protracted shutdown of the Strait of Hormuz in particular could force Chinese authorities to roll out fiscal or monetary support, a leading economist told Reuters.