The tech goal of China will not be affected by the ongoing trade war
China is closing in on the U.S. in some fields of technology and could quickly even overtake America in some ways, specialists informed CNBC.
The second-largest economy in the world is already displaying some excellent advancement in pushing home-grown sectors, such as artificial intelligence and chips.
“China is closing the technological gap with the United States, and although it may not be the same across the board as the United States, it will soon be one of the leading players in technology such as artificial intelligence (AI), robotics, energy storage, 5 G cellular networks, quantum information systems, and potentially biotechnology,” U.S.-based think tank Council on Foreign Relations (CFR) said in a recent report.
It arrives as Beijing prepares to celebrate the 70th anniversary of the creation of the People’s Republic of China on 1 October. With much fanfare anticipated, the incident will see the Asian giant showcasing its army skills in a parade in Beijing, and President Xi Jinping talking about the nation’s advancement.
China’s digital footprint
Technology has been a major component of the nation’s growth.
China’s electronic economy accounts for more than 34% of the country’s gross national product. It is also home to some of the world’s biggest technology businesses, including Alibaba’s e-commerce giant and Tencent’s tech conglomerate.
That’s thanks to a rise in the internet over the years. The amount of Internet consumers in China at the end of 2008 was 298 million — or just over 22 percent of the inhabitants at that moment, according to formal stats from the China Internet Information Center (CNNIC). That amount grew to 854 million at the end of June this year— or more than 60% of the inhabitants.
Just over 99 percent of Chinese web users access the Internet on their mobile devices, according to formal public statistics. In the U.S., just over 92% of Internet consumers access portable stats distinct from eMarketer.