China’s Xi Pledges Support for Innovative Firms Amid US Rivalry
- Chinese leader renews his call for technological self-reliance
- US has moved to deprive Asian nation of key chip equipment
Xi Jinping
Source: Bloomberg
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Chinese President Xi Jinping encouraged companies to break technological barriers as Beijing mobilizes its private sector to counter what it sees as containment by the US and its allies.
Innovation led by companies is key to realizing “high-level technological self-reliance,” Xi declared at a meeting on Friday attended by senior Communist Party officials, including Premier Li Qiang. The government should help companies crack core tech challenges facing the country, the official Xinhua News Agency reported, citing the meeting Xi presided over.