Washington’s measures have prompted Beijing to take “resolute countermeasures” and embark on a quest for technological self-reliance, hoping to achieve breakthroughs in key supply chain bottlenecks, like high-end computer chips.
The plan will be jointly managed by 12 government agencies, including the Ministry of Science and Technology, the Beijing Municipal Government, and the National Development and Reform Commission – China’s top economic planner, according to an announcement posted on their websites.