China has vowed to pursue technological self-reliance and expand its domestic market in the next five years, aiming to shield its economy from external pressures while building a sustainable growth engine, Bloomberg reports.
According to a communique released Thursday by state broadcaster CCTV, following a four-day meeting of the Communist Party’s Central Committee, the country intends to “greatly increase” its capacity for self-reliance and scientific and technological strength.
The plan emphasizes the development of “new-quality productive forces,” including advanced technologies such as semiconductors and artificial intelligence. Analysts say this focus underscores Beijing’s strategy to enhance productivity and achieve self-sufficiency amid an aging population and Western restrictions on high-tech exports.
In addition, the communique reaffirmed China’s commitment to boosting domestic consumption, a move long viewed by economists as essential to rebalancing the economy away from its dependence on exports and debt-driven investment. Specific policy measures to implement this vision are expected to be announced in the coming months.
