A report by two influential US business groups has provided evidence that China is persisting with its Made in China 2025 plan to overhaul the country’s industrial capacity, the Wall Street Journal reports, a topic which has been particularly sensitive during trade war negotiations.
The report, co-authored by the US Chamber of Commerce and the American Chamber of Commerce in China, gave a list of state-led policies currently being implemented to help achieve Beijing’s goal of global technology leadership, despite recent signs from Chinese officials of reduced support for the initiative.
There remains “a deep, concerted and continuing effort” among provincial governments to pursue the plan, such as Guangdong officials liaising with local robotics companies or tax exemptions in high-tech manufacturing regions.
The report has been seen by the US Trade Representative’s office, and can be expected to carry weight in informing ongoing trade talks. As consistent advocates of closer US-China business ties, the two chambers did not mention other aspects of the trade war including the size of the bilateral trade imbalance.