File photo of Chinese President Xi Jinping | Bloomberg
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Beijing: President Xi Jinping said on Saturday that China can no longer rely on its previous economic development model of depending on global exports and must build self-controlled, safe and reliable domestic production and supply system to ensure industrial and national security.

The just-concluded plenary session of the ruling Communist Party of China (CPC), headed by Xi, adopted his proposals for the formulation of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.

While the 14th five-year plan envisages a massive overhaul of the country’s domestic market to boost consumption in order to reduce China’s reliance on shrinking exports markets, the Vision 2035 visualises a long-term plan, reflecting the development vision of Xi.

Politically, Xi’s Vision 2035 plan has sparked speculation that he could continue in power for the next 15 years.

Xi, 67, has emerged as the CPC’s most powerful leader after its founder Mao Zedong, holding the posts of CPC General Secretary, head of the military besides the Presidency with prospects of a life-long tenure.

A constitutional amendment in 2018 has removed the two-five-year term limit for the president, which would enable Xi to continue in power for life. His second term as the president is due to end in 2022.

We shouldn’t and couldn’t simply repeat the previous model, but should strive to shape new industrial chain to enhance technological innovation and import substitution, which is the focus of deepening supply-side structural reforms and the key to achieving high-quality development, Xi was quoted as saying in an article published in Qiushi’s, CPC’s official journal.

Xi said that in order to ensure China’s industrial security and national security, we must build self-controlled, safe and reliable domestic production and supply chain.


Also read: Xi Jinping facing rebellion, but that’s probably not why key party meet was delayed  


We should strive to have at least one alternative source for important products and supply channels to form a necessary industrial backup system, Xi said.

He underscored the importance of the industrial and supply chain. One key feature for major economic power is that its industrial and supply chain should not be disrupted at a crucial moment, he said.

China’s complete industrial chain has played a key role during the COVID-19 pandemic by guaranteeing the availability of important materials for epidemic prevention and control. However, the public health crisis has also exposed risks in the domestic supply chain and industrial chain, he said.

For the sectors where China has achieved pioneering advantages, for example the high-speed rail, power-generating equipment, and communication equipment, Xi suggested that technologies should be further honed, so as to forge strong counter-measures and deterrence capabilities when foreign parties block supplies, excerpts of his article published in the state-run Global Times said.

China’s status as the world’s factory has been affected by declining global markets and US President Donald Trump’s trade war and his move to ban Chinese tech firms like Huawei and TikTok over security concerns. The US also recently clamped restrictions on exports of semiconductor chips to China, deepening the technology conflict between the world’s top two economies.


Also read: Why India has its eye on plenary of the all-powerful Communist Party of China beginning today


 

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4 Comments Share Your Views

4 COMMENTS

  1. Wish INDIA had the same wisdom to copy and assimilate technology within country. Chinese are keen to develop their own country, while we supplied our manpower to US via brain drain instead!

  2. Richard Nixon and Henry Kissinger are today judged as the two people responsible for aiding and empowering a Communist Country that suppressed its people and their freedoms,. US gave away technology overtly and covertly, let Capital flowed freely and to an unimaginable extent, while turning a blind eye to the theft of know-how.,planting Chinese nationals in US Universities and laboratories creating a pipe line of scientific know-how and stealthy stealing that they have used to improvise and build the economic strength that it has today. The Chinese are great improvisers and have used the stolen know-how to create better products and arms.
    The Presidents who came in after Richard Nixon and their administrations were so dumb, not to realize the Dragon that they were bringing to life and sustaining for five decades. Donald Trump at-least has woken up to this reality.Both Richard Nixon and Henry Kissinger should be tried for treason in the US.

    • Hahah. So salty man. Chinese have tech that usa can’t dream of. Let alone steal. And chinese made compass, gun powder, paper money and now they operate cashless. Don’t even try. Usa already lost tech race. America is built by immigrants

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