China has unveiled an ambitious plan for the country to achieve supremacy in the field of Artificial Intelligence (AI), Biotechnology, Semiconductors and Quantum Computing in the next five years.
In a draft unveiled by the officials at the annual session of the CCP held in Beijing notes that the country will be investing more than 7% annually to boost research and development over the five years to the end of 2025.
The five-year plan also list out the possibilities that China will battle out against the restrictions and boost its development in the field of core technologies for which the country has to be dependent on US technologies. Experts believes that China could achieve its goals with its development in the AI research and 5G connectivity.
Chinese Premier Li Keqiang said that the country will be revising regulation and policies to enhance support for the flow of venture capital into startups, free up bank lending and extend tax incentives to encourage research and development in the country.
China’s five-year plan for its research and development boost in the field of advanced technologies is the first major step towards the China Vision 2035 that aims to make China as one of the most innovative nations in the world.
Source: Wall Street Journal