China’s tech innovation
New quality productive forces – #China expert David Mahon explains to @TheJulietMann what he understands by the buzzwords of the latest #TwoSessions gathering in #Beijing.
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00:00 It's already evident that the Chinese government has focused on technology
00:05 upgrading of many ordinary industries, but also this tremendous development in high tech. And
00:13 this is because they don't expect the engine of the economy that the property sector has constituted
00:19 to return to be the same as it was before the bubble collapsed. It's a very important innovation.
00:25 We see it in clients we have in the robotics sector. Chinese ports are at the moment involved
00:31 in a tremendous upgrade. So this is real. Also, credit to private companies in the tech sector
00:39 has loosened considerably. So it won't replace what property has been, but it will play a major
00:45 role. And I think it's going to be a significant component of trying to reach this 5% GDP growth.