Power Play

Beijing updates 'Made in China 2025' for leaner, meaner times

China identifies seven frontier technologies and shifts focus in research as it gears up for an even more bruising fight with the US.

Visitors look at a display of a semiconductor device at Semicon China, a trade fair for semiconductor technology, in Shanghai, China, on March 17, 2021.
Visitors look at a display of a semiconductor device at Semicon China, a trade fair for semiconductor technology, in Shanghai, China, on March 17, 2021.PHOTO: REUTERS

Faster, better, cheaper. For years, this has been the maxim that has guided Chinese companies and manufacturers, who draw on foreign technology and ideas, imitate their products, but do it quicker, better and at a fraction of the cost.

It is a business model that has fuelled the rise of the world's second-largest economy, but now Beijing is bent on changing this.

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