China Aims for Advanced Economy Status with Focus on AI and Semiconductor Innovation
The Chinese government has set an ambitious goal to elevate its per capita Gross Domestic Product (GDP) to a level comparable to that of moderately advanced countries within the next decade. Over the next five years, economic policies will prioritize cutting-edge technological innovations and talent development, particularly in artificial intelligence (AI) and semiconductors.
According to a report from Chinas state-run Xinhua News Agency on the 23rd, the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, which commenced on the 20th, has concluded. The session began with a work report from President Xi Jinping and included closed-door discussions among committee members to review and approve recommendations for the 15th Five-Year Plan (2026-2030).
The communique released after the conclusion of the session emphasized the need to accelerate high-level scientific and technological self-reliance and to support original innovations. The committee aims to integrate the cultivation of scientific and technological talent to deepen the construction of a digital China. Furthermore, it aims for significant advancements in economic power, scientific and technological strength, national defense capabilities, comprehensive national strength, and international influence by 2035, ultimately achieving a per capita GDP at the level of moderately advanced countries.
Chinas economy has struggled with weak demand since the COVID-19 pandemic. This year, the situation has been exacerbated by the high tariffs imposed by the Trump administration and various export controls.
In response, the Chinese government is focusing on economic growth through advancements in high-tech industries. It believes that emphasizing scientific and technological innovation and actively developing emerging industries is essential for securing future growth drivers.
The plenary session also proposed measures to build a robust domestic market. Key points included improving the well-being of the populace, stimulating consumption, and closely linking the investment in goods and services with the needs of the citizens. The session underscored the need to promote a virtuous cycle of consumption and investment, as well as supply and demand. To facilitate this, it called for the bold removal of obstacles that hinder progress.
According to a report from Chinas state-run Xinhua News Agency on the 23rd, the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, which commenced on the 20th, has concluded. The session began with a work report from President Xi Jinping and included closed-door discussions among committee members to review and approve recommendations for the 15th Five-Year Plan (2026-2030).
The communique released after the conclusion of the session emphasized the need to accelerate high-level scientific and technological self-reliance and to support original innovations. The committee aims to integrate the cultivation of scientific and technological talent to deepen the construction of a digital China. Furthermore, it aims for significant advancements in economic power, scientific and technological strength, national defense capabilities, comprehensive national strength, and international influence by 2035, ultimately achieving a per capita GDP at the level of moderately advanced countries.
Chinas economy has struggled with weak demand since the COVID-19 pandemic. This year, the situation has been exacerbated by the high tariffs imposed by the Trump administration and various export controls.
In response, the Chinese government is focusing on economic growth through advancements in high-tech industries. It believes that emphasizing scientific and technological innovation and actively developing emerging industries is essential for securing future growth drivers.
The plenary session also proposed measures to build a robust domestic market. Key points included improving the well-being of the populace, stimulating consumption, and closely linking the investment in goods and services with the needs of the citizens. The session underscored the need to promote a virtuous cycle of consumption and investment, as well as supply and demand. To facilitate this, it called for the bold removal of obstacles that hinder progress.
Like
0
Upvote0
- PrevKorea Prepares for APEC Summit with Confidence and Attention to Detail
- NextZero Convenience Stores: The Trendy Choice for Health-Conscious Shoppers
홍한*
이런 소식 정말 좋아요.
이동*
정말 최고예요!
김한*
창업뉴스라고 왔더니 창업에 관련된게 하나도 없네요.
No comments yet.
