China Five-year economic plan for the development of Advance Technologies
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- personNabin Pradhan
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China aiming for quantum computing and AI supremacy
One of the Tech leaders of the world China in their annual legislative gathering has laid out plans for a 5 year period that will speed up the development of advanced technologies from chips to quantum computing and artificial intelligence. Chinese tech industries like Huawei and ZTE which has been hit hard by the trade battle with the US. Now China seems ambitious to bounce back in the near future.
China a country that already has many technological advantages seems more ambitious as the country’s annual legislative gathering mapped a plan to boost research and development by spending more than 7% annually over the five year time. Also, China will amend regulations and policies that will free up bank lending and extend tax incentives to encourage research and development which will help for the flow of venture capital into startups. The meeting outlines a five-year plan to advance technologies that will help nations’ security and overall development. The country will also engage in making labs, foster education programs, and boost research in the field of biotech, AI, semiconductors, and quantum computing.
As technologically advanced as China may seem many of its tech industries have taken a hit due to the US trade restrictions. And also many countries spending heavily on the development of AI, 5G, and electric cars means China might fall behind in this Tech War which one of the Tech leaders of the world China won’t like.
What do you think about the race for tech supremacy? Should the government of our country Nepal be more focused on the development of new technologies? Let us know your thoughts down in the comment section.
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