Chinese authorities outlined plans to increase the country’s self-reliance and deepen its dominance of manufacturing.
The Communist Party called for “extraordinary measures” to make China a leading force in industries including semiconductors, critical software, advanced materials, and biomanufacturing.
Though it did not detail specific targets or policies, the latest announcement nevertheless signals that Beijing is readying “a significantly more aggressive push to replace foreign technologies,” the research firm Trivium said in a note to clients.
That focus will have consequences for China’s economy, and by extension the world’s: “This single-minded focus on bolstering self-sufficiency means another crucial task — that of economic rebalancing — necessarily takes a backseat,” The Wall Street Journal’s Chief China Correspondent noted.
