China's Ambitious Industrial Vision: Strengthening Self-Reliance Amid Global Rivalries

China's Communist Party has committed to building a modern industrial system and achieving technological self-reliance, crucial steps in its competition with the U.S. The Party aims to boost domestic demand while maintaining manufacturing as a central focus, yet high debt and low inflation pose significant challenges.

China's Communist Party has pledged to construct a modern industrial system and enhance technological self-reliance, key initiatives perceived as vital in its competitive standoff with the United States.

Although the Party's Central Committee has reaffirmed its intent to elevate domestic demand and improve livelihoods, specifics remain sparse. The recent plenum also marked a substantial turnover within its ranks and outlined policies for the coming years, amid a military corruption crackdown.

While China's industrial dominance strengthens its trade position, it faces economic vulnerabilities, including high debt and low consumer confidence, raising concerns about sustainability within a global context.

(With inputs from agencies.)