China amps up tech self-reliance

BEIJING’S FIVE-YEAR TECH GAMBIT AMID TRADE TENSIONS

- BLOOMBERG

CHINA VOWED TO enhance technological self-reliance and growthe domestic market in the next five years,asit looks toboth insulate the economy from foreign pressures and build a sustainable engine for growth.

The country will aim to “greatly increase” the capacity for self-reliance and strength in science and technology, according to a communique released Thursday after a four-day conclave of the Communist Party’s Central Committee. It will also seek to maintain manufacturing’s share in the economy at a “reasonable” level as part of efforts to builda modern industrial system.

Initial outlines of the fiveyear plan come on the eve of a newround of tradetalkswith the US,which has accused Beijing of using unfair practices to dominate advanced manufacturing sectors such as electric vehicles and exporting too much. They broadly signal a continued reliance on industrial productionand exports to drive growth, amodel thatislikelyto remaina source of geopolitical friction.