Beyond pricing and monetary policy, Beijing is also focused on reducing its reliance on foreign technology.
Beijing Accelerates Push for Technological Independence
Garcia Herrero’s comments on technological independence were particularly timely.
On March 12, news surfaced that China unveiled a new silicon-free chip, which is 40% faster than Intel’s chips and consumes 10% less energy. The development counters the US administration’s move to restrict China’s access to US tech.
In a bid to drive artificial intelligence (AI) and quantum technology, Beijing has also established a 1 trillion Yuan ($138 billion) national venture capital guidance fund.
Brian Tycangco, editor and analyst at Stansberry Research, shared views from Alibaba’s (09988.HK) Chairman Joe Tsai, saying:
“Joe Tsai knows. And he also knows China will be at the forefront of the global push towards…
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