At the five-year national congress of the Communist Party, the Chinese president said the country would seek “self-reliance and strength in science and technology,” including developing talent domestically and recruiting workers from abroad. (Reuters, The Wall Street Journal)
Talking point: The Chinese state has amped up regulatory action on domestic consumer-internet firms over the last two years, setting working conditions for gig platforms, imposing online-lending and -education restrictions and accusing the very largest companies of monopolistic business practices. Xi’s speech suggested no softening, focusing instead on strategic technology and citing wins in areas like supercomputing and aerospace. But those industries may find their progress hampered by more stringent U.S. restrictions on exporting semiconductors and chipmaking tools used in AI and other disruptive technologies to China. Beijing has also cancelled Tuesday’s scheduled release of third-quarter economic data, with preliminary numbers pointing to a stimulus-driven uptick.