China will strongly promote its domestic industry, according to Premier Li Qiang.
Strong support from the Chinese state is required; Image: The Wall Street Journal
Premier Li Qiang says on state radio that China will strengthen its advanced industry promotion policies to help the industry counter sanctions from the US.
China has been under pressure from the US for several months. No more advanced chips are supplied to the country by the US. The industry is suffering greatly from the sanctions.
Li says China is creating a market-oriented, legal and international business environment and strengthening advanced industry policy guidelines. Scientific and technological policies should be changed so that companies can develop robustness and self-reliance.
