SHANGHAI, China – President Xi Jinping’s call for China to “win the battle” in core technologies could signal an overhaul in Beijing’s approach to advancing its tech industry, with more state-led spending and intervention to counter US pressures, analysts say.
Iris Pang, chief economist for Greater China at ING, said Xi’s remarks addressed “the urgent need for talent and promoting self-sufficiency in technological advancement.” In his speech, Xi listed a slew of industries where he described China as having achieved breakthroughs over the past decade, including large aircraft, space flight, satellite navigation – all of which rely on copious state support.
But while the support has propelled the rise of potential giants like Semiconductor Manufacturing International Corp and Yangtze Memory Technologies Co Ltd, no domestic Chinese chip company has gained global dominance at the most advanced level, and the sector remains heavily reliant on foreign technology.
Source: Tech Daily Report (techdailyreport.net)
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