Chinese leaders target ascent as a ‘technology power’

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Beijing:  China’s leaders vowed Thursday to speed up its development as a self-reliant “technology power” as a feud with Washington cuts access to US components and hampers Beijing’s industrial ambitions.

Leaders of the ruling Communist Party leaders made the announcement as they ended a meeting to draft a development blueprint for the state-dominated economy over the next five years.

President Xi Jinping’s government is trying to limit damage from the Trump administration’s curbs on sales of processor chips and other technology to Chinese companies in a fight over security and spying. Those threaten to disrupt plans to create Chinese competitors in telecoms, biotech and other fields. The communist leadership views that as a path to prosperity and global influence.

“Science and technology should be self-reliant as a strategic support for national development,” said a party statement. It called for measures to “accelerate the building of a science and technology power” but gave no details.

Five-Year Plans, issued since the 1950s, form the basis of regulation and industry initiatives in an economy which the ruling party still plays a leading role after four decades of market-style reform.

The full plan is due to be released in March. Changes in regulation and plans for individual industries will be announced after that.

Thursday’s statement also promised to promote “green and low-carbon development” and to raise the Chinese public’s living standards.

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