Chinese Leadership Prioritizes Scientific and Technological Self-Reliance in 14th Five-Year Plan Development

Central Committee of the Communist Party Explains the Outcome of the 5th Plenary Session... "Core Technologies Cannot Be Obtained or Bought"
Complete Decoupling from the US Economy Is Impossible, Neither Country Benefits

[Asia Economy Beijing=Special Correspondent Jo Young-shin] It has been revealed that the Chinese leadership prioritized technological self-reliance above all else in all sectors when establishing the '14th Five-Year Economic Development Plan (14·5 Plan)'.

The Central Committee of the Communist Party of China held a press conference on the 30th to explain the results of the 5th Plenary Session of the 19th Central Committee (5th Plenum).

Immediately after the closing of the 5th Plenum the previous day, the Chinese leadership specified China's development strategies of 'dual circulation development' and 'scientific and technological power' through a communiqu? (meeting materials).

Regarding the scientific and technological power, Wang Zhigang, Minister of Science and Technology of China, emphasized the necessity of technological self-reliance by stating, "Core technologies cannot be obtained from anywhere nor can they be purchased."

[Image source=Yonhap News]

Minister Wang said about technological self-reliance, "We must find breakthroughs in basic research and core technologies and establish an efficient national science and technology innovation system," adding, "Through talent cultivation and scientific and technological development, we will pioneer a new path of innovative development to build a strong nation and accelerate the construction of a world scientific and technological power."

He said, "Technological innovation has always played an important role in national and human development," and "this role will become even more important in the future." He mentioned that China has entered a new stage of development, requiring new development concepts and new development patterns. He emphasized that this is the first time that technological self-reliance was set as the top priority in all fields when establishing the five-year economic development plan.

Minister Wang added, "China will expand dialogue and exchanges with countries around the world regarding science and technology policies, development plans, scientific research ethics, science and technology, and areas of common interest."

Han Wonsu, Deputy Director of the Standing Committee of the Central Financial and Economic Affairs Commission, emphasized the change in China's economic structure regarding the dual circulation development strategy. He explained that the focus has shifted from manufacturing and export-centered to domestic demand-centered.

Deputy Director Han said, "China's trade dependence, that is, the proportion of total foreign trade exports and imports in GDP, has dropped from over 60% to the 30% range, while domestic demand plays an important role in supporting economic circulation."

He continued, "We must take the expansion of domestic demand as a strategic starting point and unblock the bottlenecks in the national economic circulation from production and distribution to circulation and consumption," implying reforms on the supply side.

Above all, the Chinese leadership emphasized that the dual circulation development strategy is a long-term strategy, not a temporary measure. It is not a strategy introduced to respond to issues with the Western bloc, such as the US-China conflict. The leadership explained that the background for its introduction is that China's economic pattern has already changed.

Regarding the decoupling phenomenon between the Chinese and US economies, he said, "Complete decoupling is fundamentally impossible and benefits neither side."

Ning Jizhe, Deputy Director of the National Development and Reform Commission of China, said that China faces risks and challenges both domestically and internationally. He stated that unilateralism and protectionism have emerged internationally, increasing uncertainty. This was interpreted as the Chinese leadership's view on the US-China conflict.

This content was produced with the assistance of AI translation services.