It is 10 years since Beijing announced an ambitious plan called Made in China 2025 to transform the country from “a low-cost manufacturing base into a high-tech superpower”. President Xi Jinping’s policy aimed for China to be world leader in a range of industries, from advanced computing to aerospace, and came with big investments in…
Since 2022, China’s economy has been haunted by a weak recovery. Real gross domestic product (GDP) growth has fallen below 5 per cent for two consecutive quarters this year, posing challenges for Beijing to achieve its annual growth target of around 5 per cent. The International Monetary Fund estimates that the proportion of China’s nominal…
China has approved 113 innovative drugs since its 14th five-year plan began in 2021, according to data shared at a forum in Shanghai on the development of the domestic medicine industry. The number of approvals already marked an increase of nearly three times over the previous five-year plan, and had reached a market scale of…
The China Future Tech section provides readers with a one-stop homepage for tracking the latest developments and trends in the six sectors, which are chosen because of their implications for not only China’s economic and technology future, but also the country’s geopolitics and trade ties with the rest of the world. China Future Tech includes…
China’s “little giants” are at the vanguard of its next technological leap. The number of these small and medium-sized enterprises, nurtured under the 14th five-year plan to lead in advanced tech sectors, has exceeded the government’s target. The government aims to accelerate their growth further with expanded capital access. But their leap from innovation to…
China’s first domestically built 300-megawatt heavy-duty gas turbine – used for generating electricity and powering warships – has passed an ignition test. It marks a key milestone for the Chinese technology, which was said to lag behind that of the West by about 30 years when the project began in 2016. The team’s rapid progress…