Investing.com -- The Chinese government is contemplating a new version of its strategy to enhance the production of high-end technological goods, Bloomberg reported on Monday.
This development indicates China’s determination to maintain a strong foothold in manufacturing, even as President Donald Trump aims to repatriate more factories to the U.S.
According to the report, officials are developing plans for a future iteration of Xi’s prominent "Made in China 2025" initiative. The upcoming decade’s plan might focus on technology, including chip-making equipment.
However, to avoid attracting criticism from Western nations, the campaign may not bear a similar name.
Simultaneously, policymakers preparing for Beijing’s next Five-Year Plan, set to commence in 2026, aim to keep the manufacturing sector’s contribution to the gross domestic product (GDP) stable over the medium to long-term, the report aded.
This strategy highlights that the U.S.’s desired rebalancing of China’s economy may not be easily achievable.
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