‘Two sessions’ signals China-US tech contest is entering a new era

Following China's "two sessions" meetings, government policy signals an intensified technological competition with the United States. China's economic growth target is set at 4.5-5%, with increased fiscal support for research and development, signaling a focus on scientific capability and advanced manufacturing. The government work report emphasized technological self-reliance and breakthroughs in core technologies, particularly in semiconductors, AI, and other strategic sectors. This push for domestic innovation is a response to export controls and other restrictions limiting China's access to advanced technologies. The China-US relationship is expected to be defined by competition in key industries, with limited cooperation in global science and innovation.

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