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Thu May 21, 2020, 06:56 AM

China has new US$1.4 trillion plan to seize the worlds tech crown from the US

Beijing is accelerating its bid for global leadership in key technologies, planning to pump more than a trillion dollars into the economy through the roll-out of everything from next-generation wireless networks to artificial intelligence (AI).

In the master plan backed by President Xi Jinping himself, China will invest an estimated 10 trillion yuan (US$1.4 trillion) over six years to 2025, calling on urban governments and private hi-tech giants like Huawei Technologies to help lay 5G wireless networks, install cameras and sensors, and develop AI software that will underpin autonomous driving to automated factories and mass surveillance.

The new infrastructure initiative is expected to drive mainly local giants, from Alibaba Group Holding and Huawei to SenseTime Group at the expense of US companies.

As tech nationalism mounts, the investment drive will reduce China’s dependence on foreign technology, echoing objectives set forth previously in the “Made in China 2025” programme. Such initiatives have already drawn fierce criticism from the Trump administration, resulting in moves to block the rise of Chinese tech companies such as Huawei.

“Nothing like this has happened before, this is China’s gambit to win the global tech race,” said Digital China Holdings chief operating officer Maria Kwok, as she sat in a Hong Kong office surrounded by facial recognition cameras and sensors. “Starting this year, we are really beginning to see the money flow through.”
The tech investment push is part of a fiscal package waiting to be signed off by China’s legislature, the National People’s Congress, which convenes this week. The government is expected to announce infrastructure funding of as much as US$563 billion this year, against the backdrop of the country’s worst economic performance since the Mao era.

The nation’s biggest purveyors of cloud computing and data analysis Alibaba, the parent company of the South China Morning Post, and Tencent Holdings will be linchpins of the upcoming endeavour. China has already entrusted Huawei, the world’s largest telecommunications equipment supplier, to help galvanise 5G. Tech leaders including Pony Ma Huateng and Jack Ma are espousing the programme.

https://www.scmp.com/tech/policy/article/3085362/china-has-new-us14-trillion-plan-seize-worlds-tech-crown-us

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Reply China has new US$1.4 trillion plan to seize the worlds tech crown from the US (Original post)
Troll2 May 21 OP
Charlie Mike May 21 #1
JaimeBondoJr May 21 #2
Dumper May 21 #3
quad489 May 21 #5
quad489 May 21 #4
nolidad May 21 #6

Response to Troll2 (Original post)

Thu May 21, 2020, 07:43 AM

1. Nobody should trust those corrupt thugs.

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Response to Troll2 (Original post)

Thu May 21, 2020, 08:34 AM

2. Sounds like a buncha guano to me.

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Response to JaimeBondoJr (Reply #2)

Thu May 21, 2020, 08:36 AM

3. But the possibility makes many Lefties smile.

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Response to Dumper (Reply #3)

Thu May 21, 2020, 08:44 AM

5. Lefties sure love hi-tech police states.......

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Response to Troll2 (Original post)

Thu May 21, 2020, 08:43 AM

4. ''and private hi-tech giants like Huawei Technologies''...no such thing as a private corp in china.

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Response to Troll2 (Original post)

Thu May 21, 2020, 03:54 PM

6. The CCP is more interested

in mass surveillance than giving their people high technology! Also selling that technology to nations to spy on them!

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