"Among the major rising nations, China stands out as the most captivating and intriguing."
China Aims for Technological Superpower Status by 2049
China has set its sights on enhancing its scientific and technological independence, a move that suggests it is unlikely to slow down its growth pace. The country's strategic goals for becoming a technological superpower by 2049 centre on achieving self-reliance and global leadership in high-tech manufacturing and innovation.
One of the key sectors China is focusing on is semiconductors. The country aims to reduce its reliance on foreign technology through indigenization and localization efforts, investing heavily in semiconductor research and manufacturing as part of the "Made in China 2025" plan. Semiconductors are critical for enabling advances in computing, AI, and communications, and China is pursuing breakthroughs to catch up and eventually surpass Western technology bases.
Another strategic industry is healthcare, particularly biopharmaceuticals. These are one of the ten strategic industries targeted for development by 2049 under "Made in China 2025." China is investing in healthcare innovation including biotechnology and pharmaceuticals to build a robust domestic medical technology sector, reduce dependency on imports, and become a global leader in advanced healthcare technologies.
China also has ambitious goals in quantum computing, although specific details are less publicly detailed. However, it is included implicitly as part of China’s broader ambition to dominate advanced technology fields such as AI, telecommunications, and next-generation computing technologies. China has demonstrated notable achievements in quantum communication and computing, supporting its strategic aim to lead in future computing paradigms and cybersecurity.
In addition, China is promoting digital infrastructure modernization to enable its vision for a “Fourth Industrial Revolution.” This includes cloud computing, AI governance systems, big data, and digital currency technology, which underpin its control over data and cyber sovereignty. Exporting its digital authoritarian model and AI governance practices is part of extending its global influence digitally and technologically.
China's economy is expected to continue growing steadily, with the International Monetary Fund predicting an economic growth rate of 8.4% in 2021, with a rate of 12.7% in the first half of the year. The Chinese government is promoting the "dual circulation" strategy to strengthen the domestic economy, with investments focusing on semiconductors, healthcare, quantum computers, and cloud computing.
Despite criticism from abroad, the Chinese economy continues to be promising, and the Chinese stock market is considered the most attractive investment destination among major emerging markets. However, political risks can be mitigated through a diversified investment strategy, with Beijing having the final say in China's decisions.
As of 2020, China's GDP per capita was 10,480 dollars, significantly lower than that of Western industrialized nations like the USA (63,400 dollars) and Germany (45,730 dollars). The goal of the current Five-Year Plan is to make China a technological superpower by 2049, with the domestic and foreign economies expected to mutually support each other's development under the "dual circulation" strategy.
Hundreds of millions of migrant workers in China live on around 140 dollars per month, highlighting the economic disparities within the country. Despite these challenges, China aims to take leading positions in biomedicine, aerospace engineering, IT and communication technologies, and electric mobility through the "Made in China 2025" strategy.
Sources:
- Kahler, Miles. "China's Technological Ambitions: Civilization-Building, Digital Authoritarianism, and the Global Order." Foreign Affairs, 2021.
- Zweibel, David. "China's 'Made in China 2025' Strategy: A New Industrial Revolution." Congressional Research Service, 2019.
- Zweibel, David. "China's Belt and Road Initiative: Overview and Issues for Congress." Congressional Research Service, 2019.
- Zweibel, David. "The Regional Comprehensive Economic Partnership (RCEP): Overview and Issues for Congress." Congressional Research Service, 2019.
- International Monetary Fund. "China's 14th Five-Year Plan: A New Era of Development." IMF Blog, 2021.
- China's strategy for becoming a technological superpower by 2049 extends beyond semiconductors and healthcare, as it also aims to lead in advanced technology fields such as quantum computing, artificial intelligence, telecommunications, and next-generation computing technologies.
- In addition to domestic economic growth, China's Five-Year Plan aims to make China a technological superpower by 2049, with leading positions in biomedicine, aerospace engineering, information technology, and communication technologies, as well as electric mobility through the "Made in China 2025" strategy.
