China’s Xi promises changes to promote tech centre Shenzhen

In this news, we discuss the China’s Xi promises changes to promote tech centre Shenzhen.

President Xi Jinping on Wednesday pledged new measures to support the development of China’s largest tech hub, Shenzhen, amid a row with Washington that has disrupted access to U.S. technology and fuels ambitions to create suppliers Chinese. Xi made the remarks in a speech marking the 40th anniversary of the declaration of the former fishing village adjacent to Hong Kong as the first area for the ruling party to allow tightly controlled free enterprise.

He promised to ease regulations to encourage new industries. He also called for “the great rejuvenation of the Chinese nation” and “the optimization and upgrading of production”, a reference to official ambitions to become a global competitor in the fields of telecoms and biotech. electric cars and renewable energies. Shenzhen companies, including Huawei, a maker of smartphones and telecommunications network equipment, are playing a key role in the party’s plans to transform China into a leader in telecommunications, electric cars and other profitable fields.

This has made them the target of American complaints that they could pose security threats or erode American industrial dominance. The party leadership is issuing more than 60 policy changes or new guidelines, Xi said in his speech in Shenzhen to an audience of businessmen and officials. He gave no details, but said Shenzhen would have “more autonomy in important areas.” The audience, who all wore masks, included Huawei founder Ren Zhengfei and Zhong Nanshan, a prominent scientist who in January became the first to publicly confirm human-to-human transmission of the coronavirus.

China’s efforts to develop its own cutting-edge technology have added to the tensions that prompted President Donald Trump to increase import duties on Chinese products in 2018. Washington has blocked Huawei’s access to components and fuel. American technology. This threatens to cripple its sales of smartphones and switching equipment. Trump issued an order in August declaring WeChat, a popular messaging service operated by another corporate giant in Shenzhen, Tencent, a threat to national security.

Economists warn other Chinese tech producers could be upset by US restrictions on access to US components and services such as Google’s Android smartphone operating system. This has heightened the urgency of the party’s ambitions to feed Chinese creators of processor chips and other high-tech components, an effort that is focused on Shenzhen and a handful of other tech hubs.

Shenzhen has grown from a village of 30,000 people in 1980 to around 13 million people today. The downtown area is a forest of office towers that rivals Manhattan or neighboring Hong Kong. The Ping An Financial Center is the fourth tallest skyscraper in the world at 599 meters (1965 feet).

News Highlights:

  • Shenzhen companies, including Huawei, a maker of smartphones and telecommunications network equipment, are playing a key role in the party’s plans to transform China into a leader in telecommunications, electric cars and other profitable fields. This has made them the target of American complaints that they could pose security threats or erode American industrial dominance.
  • Chinese Xi promises changes to promote Shenzhen tech hub
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