China’s private businesses – from internet service provider Tencent to carmaker Geely – are to play a greater role in the country’s top technology programmes and backbone infrastructure projects as Beijing seeks to give fresh momentum to its “Made in China 2025” initiative, according to a joint policy directive by 16 Chinese ministries.
In addition to adding energy to the government’s effort to comprehensively upgrade Chinese industry by tapping advanced technologies from artificial intelligence to robotics, the policy aims to “unleash private investment vitality”, according to guidelines published on the government website this week.
The assigning of a more prominent role to domestic private firms under the guidelines, led by the Ministry of Industry and Information Technology, comes as Beijing’s “Made in China 2025” plan raises concerns in the United States and European Union that China is putting pressure on foreign businesses to surrender their technology to continue operating there.
