Chinese Premier Calls on Hi-Tech Firms to Drive Technological Self-Reliance and Green Innovation, China

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Chinese Premier Calls on Hi-Tech Firms to Drive Technological Self-Reliance and Green Innovation

Chinese Premier Li Qiang has urged hi-tech firms to take a leading role in promoting technological self-reliance and stabilizing China’s supply and industry chains. During his recent visit to Chinese manufacturers facing restrictions from the United States, Li emphasized the importance of transformation and upgrading in the face of the country’s economic slowdown.

Li visited three technology powerhouses, including Beijing U-Precision Technology, a chip-making machine builder known for its nano-scale ultra-precision measurement and control technology. He reiterated Beijing’s support for innovation and the exploration of subdivided fields, highlighting the necessity for the industry to strengthen confidence.

He stressed the need for the industry to concentrate on high-end, intelligent, and green technology, and to climb to the top of the industrial chain, innovation chain, and value chain. Li views technological innovation as a key foundation for high-quality economic development.

This visit follows Li’s previous tech-focused trip to Guangdong province, where he visited state-backed laboratories and hi-tech firms, including Huawei Technologies. China has set an annual economic growth target of around 5%, but the country’s economic recovery has been slow. To boost the economy in the short term and restore confidence among investors and consumers, timely impact is needed.

In an effort to bolster private firms, the State Administration for Market Regulation rolled out a 22-point package to improve the business environment and provide policy support, legal safeguards, and improved engagement. This package follows the 31-point action plan released in July. However, discussions have been ongoing as China refrains from implementing large-scale stimulus measures despite challenges in the housing market, falling investment, exports, and a lack of robust rebound.

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China must address these issues and recognize the pivotal time of economic recovery and industrial upgrade it currently faces. The country’s economic stabilization and growth depend on overcoming these challenges.

Overall, Premier Li’s call for hi-tech firms to lead in technological self-reliance and green innovation aligns with China’s goal of enhancing its innovation capabilities and securing its supply chains. It is crucial for China to prioritize technological advancement and foster an environment that encourages innovation and high-quality development in order to achieve long-term economic growth and sustainability.

Frequently Asked Questions (FAQs) Related to the Above News

What is the purpose of Chinese Premier Li Qiang's recent visit to hi-tech firms?

Chinese Premier Li Qiang's visit to hi-tech firms aims to urge them to drive technological self-reliance, stabilize supply and industry chains, and promote transformation and upgrading in the face of China's economic slowdown.

Which hi-tech firms did Li Qiang visit during his recent trip?

Li Qiang visited three technology powerhouses, including Beijing U-Precision Technology, a chip-making machine builder known for its nano-scale ultra-precision measurement and control technology.

What areas of technology did Li emphasize the industry should concentrate on?

Li emphasized the need for the industry to focus on high-end, intelligent, and green technology, and to climb to the top of the industrial chain, innovation chain, and value chain.

Why is technological innovation viewed as a key foundation for China's economic development?

Technological innovation is seen as a key foundation for high-quality economic development in China, helping drive economic growth, enhance innovation capabilities, secure supply chains, and promote sustainable development.

How is China aiming to boost its economy in the short term?

To boost the economy in the short term and restore confidence among investors and consumers, the State Administration for Market Regulation has rolled out a 22-point package to improve the business environment, provide policy support, legal safeguards, and improved engagement.

What challenges is China currently facing in its economy?

China is facing challenges such as a slow economic recovery, housing market issues, falling investment, and a lack of robust rebound in exports. Overcoming these challenges is essential for the country's economic stabilization and growth.

How important is technological advancement for China's long-term economic growth and sustainability?

Technological advancement is crucial for China's long-term economic growth and sustainability. Prioritizing innovation and fostering an environment that encourages high-quality development will help enhance China's innovation capabilities, secure supply chains, and drive sustainable economic growth.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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