Celia Chen
China’s technology sector is expected to double down on research and development over the next five years, as the country’s new economic road map pushes for increased self-reliance and innovation amid trade disputes with the United States, according to analysts.
The 14th five-year plan – from 2021 to 2025 – has put self-sufficiency in technology as a major pillar of China’s economic development, marking a shift in priorities towards industrial and national security as well as reduced tech imports.
“China still stands at the middle and lower-end of global supply chains, and relies heavily on others for core technology and parts such as aircraft engines and chips,” said Liu Qiao, dean of the Guanghua School of Management at Peking University. “US-China trade tensions make [supply chains] more complicated … Increased investment in research and development is an important step [for the tech sector to achieve the plan’s goal].”
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