Chinese premier urges faster tech applications amid US export controls
In a State Council meeting on Monday, Li called the application of new technologies the 'last mile' of innovation, as it links innovation and industry and is important in driving new products and services, state-run news agency Xinhua reported.
The premier's comments come as China faces a fresh barrage of US export curbs aimed at restricting its access to a string of crucial technologies, including jet engines, chip design software and
nuclear power plant components
US officials have indicated they are
willing to remove these latest restrictions if China allows more rare earth minerals to be exported to America, with top officials from both sides currently locked in a high-stakes round of trade talks in London.
Kevin Hassett, director of the White House's National Economic Council, told CNBC that the US expected 'immediately after the handshake, any export controls from the US will be eased, and the rare earths will be released in volume'.
But the episode has highlighted the extent to which China still relies on US technology in several strategic fields, despite a concerted government push to boost investment in research and development and
become technologically self-reliant
At the State Council meeting, Li urged 'further pooling of innovation resources, pushing forward with institutional reforms, and strengthening the links between supply and demand' to deliver more concrete results in turning research into practical applications.
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