China promises market opening amid technology push

Chinese President Xi Jinping addresses Communist Party officials last week. Beijing is planning on opening up to further trade under the country’s latest five-year plan Picture: Andy Wong/AP

China will promote “technological self-reliance” under the ruling Communist Party’s latest five-year plan but will open further to trade, officials said on Friday.

The comments reflect growing official urgency about nurturing Chinese producers of processor chips and other technology at a time when a tariff war with Washington and US export curbs have reduced access to components needed by China’s fledgling tech industries.