US-China tech war: Beijing calls on Chinese firms to ‘seize overseas opportunities’ in race for self-reliance
- China has unveiled a new plan to consolidate its tech development through foreign investment in assets such as 5G and satellite communications
- At the same time, Beijing has reduced the list of restricted technology imports as it seeks to improve the competitiveness of domestic businesses
Beijing said last Friday tech firms should “seize overseas market opportunities in digital infrastructure” by investing in assets such as land-sea optical cables, broadband networks, satellite communications, big-data centres and cloud computing around the world.
Stepping up outbound investment and cooperation in the digital economy would help promote “technological self-reliance”, the government said.
“It’s good for Chinese companies to participate in reshaping the global industrial chain, and to consolidate the country’s development advantages,” Beijing said in a new guideline.
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Chinese companies were also encouraged to establish more overseas research and development centres and work with foreign firms. The government, meanwhile, promised to advocate for Chinese standards in international digital governance.