China Significantly Increases Science and Technology Budget... Accelerates Technological Independence Against the US

Premier Li Qiang of the State Council of China is greeting as he takes the podium to deliver the government work report at the opening ceremony of the National People's Congress (NPC) held at the Great Hall of the People in Beijing on the 5th.
[Image source=Yonhap News]

China has significantly increased its science and technology budget this year. This move reflects an accelerated effort to develop its own technology in response to the United States' restrictions on advanced technology sectors.

According to CNN, Li Qiang, Premier of the State Council of China, announced at the opening ceremony of the National People's Congress (NPC) on the 5th that this year's science and technology budget has been set at 370.8 billion yuan (approximately 68.661 trillion won), a 10% increase from last year.

This marks the largest increase since 2019.

Premier Li stated, "We will move faster to enhance self-reliance and strength in science and technology," adding, "We will fully leverage the advantages of the new system for nationwide resource mobilization to comprehensively improve innovation capabilities."

In particular, Premier Li emphasized strengthening efforts in big data and artificial intelligence (AI) development and launching major science and technology programs.

China's mention of self-reliance in science and technology is interpreted as a response to the United States' export controls on advanced technologies.

The United States, engaged in a hegemonic competition with China, is concerned about China enhancing its military power through AI technology and other means, and is strengthening export controls on China with its allies.

The Biden administration has also blocked U.S. investments in China related to technologies such as AI, quantum computing, and semiconductors.