China makes heaving R&D investments in technologies for telecom and travel industry (namely railway) that reduces China’s dependency on foreign tech companies. Looks like we’re heading more and more into a protectionism world.
China will ramp up investment to develop essential industrial components and materials next year, in a move to reduce reliance on foreign technology in key sectors including telecommunications and railways.
Miao Wei, minister of industry and information technology, said on Monday the ministry will channel more resources to help tackle technological bottlenecks in 20 industrial parts and 15 industrial materials.
The initiative is designed to promote homegrown parts related to telecommunications, the internet of things, railway equipment, machinery manufacturing and other sectors.