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China unveils big plan to fix its ailing economy and transform into a high-tech power

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China's leaders have spent the past week unveiling their plan to steer the world's second-largest economy through looming challenges by transforming the country into a technological powerhouse and ramping up spending to hit an ambitious growth target.
China has introduced a comprehensive economic strategy aimed at revitalizing its economy and positioning itself as a global high-tech leader. This plan includes significant investments in technology sectors like semiconductors, AI, and quantum computing, alongside efforts to boost domestic consumption and reduce reliance on exports. The government is focusing on enhancing innovation, supporting small and medium-sized enterprises, and addressing structural issues such as local government debt and real estate market instability. Additionally, there are initiatives to improve the business environment, attract foreign investment, and promote green technology, all while navigating geopolitical tensions and aiming for technological self-sufficiency. This multifaceted approach seeks to not only stabilize the economy but also to ensure long-term growth and competitiveness on the world stage.

Read the Full CNN Article at:
[ https://www.msn.com/en-us/money/companies/china-unveils-big-plan-to-fix-its-ailing-economy-and-transform-into-a-high-tech-power/ar-AA1AEnhu ]