China is poised to make big strides in emerging industries with a particular focus on quantum computing and artificial intelligence. The latest government work report outlines comprehensive plans to boost the country's ability to innovate, reduce dependence on foreign suppliers and push itself into a leadership position in cutting-edge technologies.
The report reveals a strategic commitment to developing quantum computing and artificial intelligence, making these technologies pivotal to achieving self-sufficiency in the ever-evolving technological landscape. Recognizing the transformative power of big data and artificial intelligence, China aims to intensify efforts in these areas, paving the way for groundbreaking developments.
“We will make full use of the strengths of the new nationwide resource mobilization system to raise China's innovation capacity in all areas,” said the report, which underscores the nationwide cooperative approach the country is set to adopt.
In recent years, China has faced challenges resulting from trade tensions, especially with the United States. Restrictions on exports of critical components such as chips have prompted Beijing to prioritize technological self-sufficiency. The government's focus on nurturing local innovation capabilities is consistent with its broader goal of enhancing national security and economic resilience.
The government's proactive stance includes launching major scientific and technological programs in line with strategic and industrial development goals. The centralization of technology-related policies, including the establishment of a New Technology Commission under the control of the Communist Party, indicates a concerted effort to streamline decision-making processes and ensure effective policy implementation.
“I think the government views this centralization as reducing coordination costs and making key technology development more effective,” says Doug Fuller, a researcher at Copenhagen Business School. However, concerns have been raised about potential information asymmetries as a result of centralization.
This year's focus on emerging technologies including artificial intelligence follows trends identified at last year's Central Economic Work Conference. Building self-reliance and strength in technology, along with enhancing the resilience and security of supply chains, remains a top priority for the Chinese government in 2024 and beyond.
The government's commitment extends beyond technology development to include nurturing a group of first-class scientists and innovation teams. It is planned to improve the mechanisms for identifying and supporting first-class innovators, reflecting a comprehensive approach to enhancing the culture of innovation within the country.
As China embarks on this ambitious journey, eyes around the world will be on the country's progress in quantum computing, artificial intelligence and other emerging technologies as it positions itself as a formidable player in the future of technology and innovation.
