By Reuters | Updated: March 05, 2024
BEIJING, March 5 (Reuters) – China will formulate plans to develop emerging industries including quantum computing and continue striving to achieve self-sufficiency in technology, a government work report said.
It will also step up efforts in big data and artificial intelligence (AI) and intends to launch a number of major science and technology programmes to meet major strategic and industrial development goals, the report shows.
“We will fully leverage the strengths of the new system for mobilizing resources nationwide to raise China’s capacity for innovation across the board.” it said.
Beijing has in recent years made technological self sufficiency a priority, hit hard by trade tensions with the United States which has restricted exports of chips and some other components to China.
It has said it wants to improve national security and economic resilience by nurturing domestic innovation capabilities and lessening dependence on foreign suppliers, and has increasingly emphasized the role of the government in directing resources to help achieve this goal.
This year’s emphasis on emerging technologies like AI is not surprising, said Alfredo Montufar-Helu, Beijing-based head of the China Center at the Conference Board.
It is in line with last year’s Central Economic Work Conference, where building self-reliance and strength in technology and improving the resilience and security level of supply chains were identified as top priorities for the government’s work in 2024 and beyond, he added.
Since last year, the ruling Communist party has been granted more power in making tech-related policies, part of a bigger government restructuring.
China established a new technology commission under the Communist party’s control, making the ministry of science and technology subordinate to the commission, effectively transferring some of the ministry’s previous duties.
“I think the government views this centralization as lowering coordination costs and increasing the efficacy of targeting key tech development.” said Doug Fuller, a researcher with Copenhagen Business School.
“However, the flow of necessary information to enact effective policies might dwindle with centralization and thus will probably exacerbate the existing problem of information asymmetries between central ministries and other actors.”
China will also nurture more first-class scientists and innovation teams and improve mechanisms for identifying and nurturing top-tier innovators, the report said.
© Thomson Reuters 2024
