China Pushes State Firms to Focus on Self-Reliance as US Curbs Exports

China encouraging state-owned firms to focus on self-reliance and national security, not just efficiency, as US imposes export curbs.

State firms told to secure industrial and supply chains, especially in sectors targeted by US export controls.

Assets of China's state firms surged over past decade, now total over $42 trillion. Firms have monopoly power in sectors like energy and telecoms.

Report says state firms should boost R&D for technological self-reliance in areas like defense, supply chains, infrastructure.

But some argue China should privatize more state assets and give private investors more sway, to boost economy and depressed business sentiment.