China's bold five-year plan to dominate global tech by 2030

China has set ambitious targets to become the world's leading tech superpower within five years. The government's latest Five-Year Plan, approved by the national legislature, outlines a strong push for innovation and self-reliance in key industries.

The strategy comes as the country faces economic challenges, including a struggling property market and weak consumer spending. Leaders are now betting on technology to drive future growth instead.

The plan focuses on accelerating progress in artificial intelligence, quantum computing, robotics, and aerospace. Beijing wants to expand its AI-related industries to over 10 trillion yuan ($1.45 trillion) by 2030. Officials also aim for 'decisive breakthroughs' in advanced chip production to cut reliance on Western technology.

To meet these goals, China will raise its science and technology budget by 10% each year. Research and development investment will grow by 7% annually. The country already leads globally in fields like AI, biomedicine, and quantum technology, with recent advances in chip development.

President Xi Jinping has stressed the need for original innovation and control over core technologies. The push reflects broader economic pressures, including a real estate downturn and sluggish domestic demand. By prioritising high-tech sectors, China hopes to upgrade its industrial base and secure long-term growth.

The Five-Year Plan marks a clear shift toward tech-driven development. Increased funding and targeted investments in AI, chips, and quantum computing will shape China's economic direction. Success in these areas could reduce foreign dependencies while reinforcing its position as a global technology leader.