China’s Xi promises changes to promote tech centre Shenzhen

Beijing: President Xi Jinping promised Wednesday new steps to back development of China’s biggest tech centre, Shenzhen, amid a feud with Washington that has disrupted access to US technology and is fueling ambitions to create Chinese providers. Xi made the remarks in a speech marking the 40th anniversary of the former fishing village adjacent to Hong Kong being declared the first area for the ruling party to allow tightly controlled free enterprise.

He promised to ease regulations to encourage new industries. He also called for “the great rejuvenation of the Chinese nation” and “optimizing and upgrading production,” a reference to official ambitions to become a global competitor in fields from telecoms and bio-tech to electric cars and renewable energy.