A tariff war with the US is adding fresh urgency to finding new growth drivers, with Trump already imposing a 10 per cent levy on China
CHINESE Premier Li Qiang called on the country’s top three telecom companies to step up research and development (R&D) in the aid of broader innovation and economic growth – underscoring Beijing’s drive for greater self-sufficiency against the backdrop of tensions with the US.
During a tour to units of China Telecom, China China United Network Communications and China Mobile on Tuesday (Feb 25), Li said the rapid development of frontier technologies such as artificial intelligence (AI) is profoundly changing the world and competition is intensifying, state media Xinhua News Agency reported. The premier urged the three leading companies to better cultivate “new quality productive forces”.
“Efforts should be made to steadily advance independent innovation, accelerate research and development in key areas and strive to achieve original technological breakthroughs,” Li was quoted as saying. That’s all “in a bid to inject new impetus into industrial transformation and upgrading”, he said.
Li added that the three telcos should step up their efforts to introduce AI in the manufacturing sector, offering stronger support for the national endeavour to achieve high-level scientific and technological self-reliance.
The visit follows President Xi Jinping’s rare meeting with Chinese tech bosses last week, which was seen as a signal of Beijing’s support for the private sector amid a trade war with the US.
Developing national tech champions is core to China’s plan for boosting the economy as it deflates a bubble in the property market that once drove about a quarter of growth. A tariff war with the US is adding fresh urgency to finding new growth drivers, with Trump already imposing a 10 per cent levy on China.
High-tech industries contributed 15 per cent of gross domestic product last year and are set to overtake the housing sector in 2026, according to Bloomberg Economics.
The Trump administration is planning to expand efforts to limit China’s technological advancements, including tougher semiconductor curbs and pressuring allies to escalate restrictions on the country’s chip industry, sources familiar with the matter have told Bloomberg. BLOOMBERG
Share with us your feedback on BT’s products and services
