China to boost tech self-reliance in next 5 years as rivalry with US deepens

The country will also expand domestic demand with a notable increase in household consumption. Read more at straitstimes.com.

BEIJING – China is set to wire its economy with technology and ramp up a push for self-reliance in critical industries over the next five years, in a bid to power growth and get ahead in competition with the United States.

It will also expand domestic demand with a “notable increase” in household consumption, according to the country’s foremost policy blueprint for 2026 to 2030, though the 135-page document stopped short of setting a concrete target.

A draft outline of the 15th Five-Year Plan, which will shape government priorities through the country over the next half-decade, was submitted for review on the first day of China’s annual legislative session, which runs from March 5 to 12.

A key theme is boosting technological self-reliance – a task that has acquired fresh urgency as the US deepens a push to clip China’s wings by squeezing access to the best of American know-how.

China will “substantially raise its capacity for self-reliance and strength in science and technology”, the document said, pledging to increase nationwide spending on research and development by at least 7 per cent each year till 2030, on par with targeted outlays over the last five years.

Beijing is targeting speedy breakthroughs in core technologies, and will take “extraordinary measures” to make advancements in fields like chips and high-end equipment, according to the draft roadmap.