What’s new: President Xi Jinping has pledged to strengthen efforts to develop the nation’s talent pool and build the country into a powerhouse of innovation, according to state media.
Xi said China aims to significantly increase investment in research and development by 2025 and create the foundation for a talent-fostering system that can help the country meet its goals for high-quality economic development, according to a report by the state-run Xinhua News Agency.
In his remarks, Xi highlighted the importance of nurturing domestic talent. “We must enhance our awareness of potential dangers, pay more attention to the independent training of talent and accelerate establishing competitive advantage in human resources,” Xinhua reported Tuesday.
Why it matters: China has put innovation high on its agenda, as the world’s second-largest economy looks to shore up its self-sufficiency, especially in certain core industries, such as semiconductors, amid an escalating tech rivalry with the U.S.
Contact reporter Wang Xintong (xintongwang@caixin.com) and editor Michael Bellart (michaelbellart@caixin.com)
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