 "People's Bank of China, PBOC")
By Gao Yuan
China’s ruling Communist Party vowed to enhance its role in steering its science and technology industries, centralizing decision-making power as the country navigates US trade curbs designed to limit its advancement.
The party will refine a mechanism whereby technological works are led by the Central Committee, according to state broadcaster CCTV citing a central government meeting led by President Xi Jinping. The news broadcast didn’t specify details of the plan, though the pronouncement marks an escalation of Beijing’s prioritization of a sector that China’s leaders consider of critical importance.
A year ago, Xi called for China to accelerate scientific research and replace foreign technologies with homegrown alternatives. His remarks were part of a broader push to stimulate both domestic efforts and international cooperation in the pursuit of technological independence from the US. Export controls from Washington have curtailed China’s access to the most advanced semiconductors, especially those made by Nvidia Corp. to accelerate artificial intelligence training.
China is now elevating the party’s role in directing its fight against the US for leadership across an array of strategic technologies, including semiconductors and AI.
Xi had earlier tapped his top deputy, former Vice Premier Liu He, to oversee development of China’s own chip technologies. Under that regime, Huawei Technologies Co.’s moonshot chipmaking effort yielded results that surprised outside observers by producing a modern smartphone chip without recourse to US tech.
