According to the Wall Street Journal, citing people briefed on the matter, China plans to replace its Made in China 2025 industrial policy with a new program that promises greater access for foreign companies.
According to the report, China’s top planning agency and senior policy advisers are drafting the revised plan, which is likely to play down China’s bid to dominate manufacturing and be more open to participation by foreign companies.
Current plans were savaged by the Trump administration as protectionist and the call for rolling out the new policy early next year is seen as an effort to resolve trade tensions with the U.S.
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