Home-grown tech and domestic spend are key to China’s battle plan for trade war, leadership indicates
Commentators detect ‘big change’ in approach, with moves to address the economic vulnerability targeted by US sanction against Chinese telecoms firm
The US government banned China’s largest publicly traded telecommunications equipment maker from buying parts from American companies for seven years, after it allegedly made false statements during an investigation into sales of its equipment to Iran.
ZTE defends R&D, innovation track record amid US export ban
The Politburo, China’s prime decision-making body, warned on Monday that the country must be mindful of potential dangers as the global political and economic situation became more complex.
The 25-member body, led by President Xi Jinping, ordered further efforts to “combine structural adjustment with persistent boosts to domestic demand to ensure the stability of the macroeconomy” and to “strengthen the research and development of core technologies”.
The Politburo is trying to let the Chinese economy stand firm during the power play between China and the US
Iris Pang, chief Greater China economist of ING Bank in Hong Kong, said the measures were intended to counter mounting pressure from the administration of US President Donald Trump.
US ignored China’s gains in IP protection, Chinese watchdog says
“Not a single word was mentioned about the United States in the statement, but it is all about the US,” she said.
Deng Haiqing, an economist with JZ Securities, a domestic brokerage, wrote in a note that the new wording pointed to a “big change” in, rather than a “fine-tuning” of, Chinese economic policy, as growth risks heightened.