China Pushes State Firms to Focus on Self-Reliance as US Curbs Exports
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China encouraging state-owned firms to focus on self-reliance and national security, not just efficiency, as US imposes export curbs.
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State firms told to secure industrial and supply chains, especially in sectors targeted by US export controls.
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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.
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Report says state firms should boost R&D for technological self-reliance in areas like defense, supply chains, infrastructure.
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But some argue China should privatize more state assets and give private investors more sway, to boost economy and depressed business sentiment.
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