Chinese Premier Li Qiang (李強) used his first trip out of Beijing since getting the job to reiterate Chinese President Xi Jinping’s (習近平) call to boost innovation and self-reliance, underscoring the priority the nation places on countering US efforts to curb its tech ambitions.
Li, who became premier on March 11, made the call while visiting Hunan Province on Tuesday and Wednesday.
He visited companies including electric vehicle maker BYD Co and Lens Technology Co, an Apple Inc supplier.
Photo: AFP
He also hosted a forum on advanced manufacturing that a number of top executives, including Xiaomi Corp chief executive officer Lei Jun (雷軍), attended, China Central Television reported.
It was unclear what city the event was in.
Li urged executives to “promote high-level technological independence and self-reliance, and push forward the transformation and upgrading of traditional manufacturing industries.”
Companies should “accelerate the transformation and shift of Chinese manufacturing into Chinese creations and Chinese products into Chinese brands,” he said.
Earlier this month, Xi used a major speech to rally China’s private sector to help overcome “containment” by the US and other countries.
Those comments offered direct criticism of the US, China’s biggest trading partner, which has rallied Japan and the Netherlands to restrict exports of some advanced chipmaking machinery to China, largely to curb military expansion.
Li also used his first comments as premier to say that China would protect the rights of entrepreneurs and continue to support private businesses.
The Chinese government hopes an economic recovery can help the nation get over three years of damage caused by COVID-19 restrictions.
Last week, China reported a rebound in consumer spending, industrial output and investment in January and last month, but warned of rising unemployment and a continued real-estate investment slump.
Dropping foreign demand is prompting Beijing to emphasize expanding domestic demand, said Raymond Yeung (楊宇霆), chief economist for Greater China at Australia & New Zealand Banking Group Ltd, so “the manufacturing sector has to adapt to better meet the needs of domestic customers and demand from countries having good relations with China.”
“Given the tensions with the US, China has to improve home-grown science and technology innovation to ensure production chain security,” Yeung said.
Separately, several cities across China are taking steps to roll out regulations aimed at boosting the private sector.
Guangzhou proposed that regulators encourage banks to lend more to private companies.
Guangzhou city officials also asked police and courts to act prudently when “restricting the personal freedoms” of legal representatives or managers of private firms.
Businesspeople in China complain that routine disputes with rivals can result in authorities getting involved, even to the degree that they are detained.
Also, Shanghai this month plans to launch a campaign to boost investment in the financial hub, the Shanghai Securities News reported yesterday, citing local officials.
The goal is to attract funding for eight major building projects, including a railway passenger terminal.
The city would also announce initiatives ranging from industrial parks to biomedical plants, the newspaper said, citing a briefing by officials.
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