The Asian country superpower the People's Republic of China, reportedly spent 2.2 Trillion Yuan, equivalent to $324 Billion, to match its rival, the United States of America, in terms of technology and innovation-driven to dominate the market. The Asian superpower is now amping up its research and development, in terms of technology, to overthrow the country in providing the world with the latest development and cutting-edge devices.
Chinese authorities are now expanding its research and development (R&D) facilities and capabilities to fastrack its creation of China-made and conceptualized technologies that will soon dominate the market. China is gearing up in hopes to match its rival, the United States, in giving the world the technology and innovations it needs and asks for.
According to the South China Morning Post (SCMP), China seeks to be more self-sufficient and innovative in its own country's inventions and technology. Locally made products in China are currently seeing no public recognition as it still trails behind America's tracks in the latest offerings.
Chinese corporations and even its authorities are aiming to create its semiconductor chips for its smartphones creations, coming from the recent US regulation on preventing China-made technology from getting its hands on chips made by the US. Huawei faced this struggle the most, as its high-end line of smartphones who gravely rely on Qualcomm, was prohibited from doing so.
China's focus does not only revolve on semiconductor chips. On the other hand, the Asian country is also looking into artificial intelligence and next-generation mobile network such as 5G technology.
China's Research and Development: Soon Rivaling the United States
Beijing is struggling towards this feat as its engineers are relatively inexperienced and lack knowledge over certain technologies. China admits this shortcoming, and instead of backing away or giving up, the country is now declaring an all-out technology war to whoever crosses the nation.
Chinese technologies gravely rely on the United States' patronage and examples, with US' innovations widely available for use. Now, China utilizes a whopping 2.2 Trillion Yuan, equivalent to $324 billion, all for research and development on innovations. Beijing wants to avoid 'being strangled' in terms of technology being deprived of the country.
According to CGTN, Chinese President Xi Jinping recently stated that despite the struggles and deprivation that the country faces, it should persevere more and aim for self-sufficiency. This move by China will also be the answer to the country's struggle to help its economic rise.
China's Perseverance: Have they succeeded?
China's $324 billion budget for technology, innovations, and research and development is a massive amount of money for new technology. China is serious about its quest to rival the United States' creative inventions and even its laws.
The record-breaking spendings on R&D is an all-new high for China, representing a whopping 2.23 percent of China's GDP. Analysts now say that China is looking at an advantage, especially with its cheap labor and production costs.
China is now making a move to retaliate against the US laws and regulations, leading to the Asian country's self-sufficiency. The move is now China's ace to line itself up with the US as a self-sufficient technology manufacturer, soon providing the world with its innovations and inventions.
This article is owned by Tech Times
Written by Isaiah Alonzo
