Latest news with #self-sufficiency
South China Morning Post
12-06-2025
- Business
- South China Morning Post
Huawei chief spells out China hi-tech resilience
The way Ren Zhengfei tells it, Huawei Technologies, the telecoms behemoth he founded, is just one of many hi-tech firms in China. He apparently feels puzzled that the United States keeps targeting his company when its products and computer chips, as well as those of China's other advanced producers, are a generation behind their American counterparts. Advertisement That may be true, but no one should take what he said at face value. His remarks appeared on the front page of People's Daily during two days of intense high-stakes trade talks between Beijing and Washington in London. Two sticking points have been China's restrictions on the exports of rare earths, and America's new curbs on the sale of jet engines and chip-design technologies to China. With Huawei being one of the most important companies behind the nation's drive to become technologically self-sufficient, Ren's interview in Chinese was not only aimed at a domestic audience first and foremost, but also America. We may be behind, he admitted, but were catching up, through perseverance, determination and ingenuity. The most advanced chips may be denied us, but through clever mathematical and computing techniques, Chinese engineers could deliver chips almost as powerful as anybody else. While appearing humble, he was telling the world and the US that Huawei is here to stay, no matter what is thrown at it. There is no better example of Deng Xiaoping's famous dictum: hide your strength, bide your time. In the intensifying trade and tech war between two of the world's largest economies, Huawei has been in the eye of the storm. Last month, the US Department of Commerce tried to declare that the use of Huawei's Ascend chips 'anywhere in the world' would be a violation of American export controls. Beijing responded angrily, and the department climbed down, saying it was an advisory, not an order. Now, subject to final approvals, the two sides may have reached a truce, including apparently relaxing some export curbs on rare earth and chip technologies. Advertisement This will not be the end of their tech war. But China is in a good position with companies like Huawei as one of its trump cards.
South China Morning Post
04-06-2025
- Business
- South China Morning Post
Tech war: China's top three EDA firms under spotlight after US ban on chip design tools
Advertisement The restrictions, however, are expected to help strengthen China's semiconductor self-sufficiency efforts, according to the latest research note by ICBC Credit Suisse Asset Management. Following news of the US tech ban, the Shenzhen -listed shares of Empyrean, Primarius and Semitronix initially recorded strong trading, as investors hoped these firms could become major alternative EDA suppliers in China. Primarius surged over 22 per cent since Wednesday last week, while Semitronix and Empyrean rose over 17 per cent and 8 per cent over the same period, respectively. On Wednesday, Primarius fell 9.41 per cent to close at 28.80 yuan (US$4). Semitronix slipped 4.19 per cent to 55.85 yuan, while Empyrean was down 4.01 per cent to 125.09 yuan. Advertisement Still, investor interest in the three Chinese companies reflects room for growth, as they tap fresh opportunities in the domestic market.
South China Morning Post
28-05-2025
- Business
- South China Morning Post
China releases plan aimed at upgrading IT manufacturers, boosting self-sufficiency
China has unveiled a detailed plan to upgrade its information technology (IT) manufacturers as it doubles down on achieving self-sufficiency in technologies including semiconductors, batteries, satellite navigation and artificial intelligence (AI), and sidestepping US tech curbs. Advertisement The 18-point action plan calls for the deepening of AI integration and the fostering of a new class of industry service providers by 2027. It aims to see more than 85 per cent of manufacturers using computer numerical control – in which computer programs automate machining – in key processes in the next two years, and to cultivate at least 100 specialised service providers for the sector. By 2030, China aims to have completed a core industrial database that will allow its IT manufacturers to achieve 'new breakthroughs' and scale the 'high end of the global value chain'. The blueprint was released on Tuesday by the Ministry of Industry and Information Technology, the National Development and Reform Commission and the National Data Administration, amid the closing phase of the 'Made in China 2025' initiative. Advertisement IT manufacturing forms the backbone of China's industrial system, spanning upstream materials like monocrystalline and polycrystalline silicon, midstream component manufacturing, and downstream applications in electronics and automotive systems.
Asharq Al-Awsat
26-05-2025
- Business
- Asharq Al-Awsat
Egypt Aims to Boost Local Wheat Procurement to Cut Imports, Says Minister
Egypt could significantly reduce its wheat imports this year as domestic procurement is expected to reach up to 5 million metric tons, compared to 3.5 million tonnes last year, Supply Minister Sherif Farouk told reporters on Monday. "Increasing wheat procurement is a welcome development. We could exceed 4 million tons, even reach 5," Farouk said. The figure is consistent with previously announced target of buying between 4 and 5 million tons from local farmers this season, compared to 3.4 million in 2024. While calling the rise in procurement promising, Farouk said it was "still not satisfying for us", and predicted further improvements in the coming years. Egypt, one of the world's largest wheat importers, consumes 9.5 million tons annually through the supply ministry to support subsidised bread. Wheat forms the backbone of the subsidised bread program, a lifeline for over 69 million citizens. Official data seen by Reuters shows Egypt bought around 3.5 million tons of wheat as of Monday since the beginning of the local harvest in mid April, which is set to continue through mid August, against 3 million tons in the same period last year. Greater self-sufficiency, he added, also allows Egypt to time international purchases strategically. "We're not forced to buy during peak periods in exporting countries. We can choose the right time and price." Farouk also noted ongoing negotiations with Bulgaria, Egypt's fourth-largest wheat supplier, to expand cooperation, whether through direct deals with the military-linked state agriculture commodities importer, Mostakbal Misr, or through a barter system, although negotiations are still ongoing. On wheat reserve levels, he dismissed concerns, saying: "Any increase or decrease in reserves is part of our strategy to secure the best prices it's about storage capacity and economic logic." He also said that Egypt's strategic reserves of wheat are sufficient for 6 months, while reserves of vegetable oils are sufficient for 4 months, and sugar for 12 months.
Zawya
26-05-2025
- Business
- Zawya
Egypt aims to boost local wheat procurement to cut imports, says minister
Egypt could significantly reduce its wheat imports this year as domestic procurement is expected to reach up to 5 million metric tons, compared to 3.5 million tonnes last year, Supply Minister Sherif Farouk told reporters on Monday. "Increasing wheat procurement is a welcome development. We could exceed 4 million tons, even reach 5," Farouk said. The figure is consistent with previously announced target of buying between 4 and 5 million tons from local farmers this season, compared to 3.4 million in 2024. While calling the rise in procurement promising, Farouk said it was "still not satisfying for us", and predicted further improvements in the coming years. Egypt, one of the world's largest wheat importers, consumes 9.5 million tons annually through the supply ministry to support subsidised bread. Wheat forms the backbone of the subsidised bread programme, a lifeline for over 69 million citizens. Official data seen by Reuters shows Egypt bought around 3.5 million tons of wheat as of Monday since the beginning of the local harvest in mid April, which is set to continue through mid August, against 3 million tons in the same period last year. Greater self-sufficiency, he added, also allows Egypt to time international purchases strategically. "We're not forced to buy during peak periods in exporting countries. We can choose the right time and price." Farouk also noted ongoing negotiations with Bulgaria, Egypt's fourth-largest wheat supplier, to expand cooperation, whether through direct deals with the military-linked state agriculture commodities importer, Mostakbal Misr, or through a barter system, although negotiations are still ongoing. On wheat reserve levels, he dismissed concerns, saying: "Any increase or decrease in reserves is part of our strategy to secure the best prices it's about storage capacity and economic logic." He also said that Egypt's strategic reserves of wheat are sufficient for 6 months, while reserves of vegetable oils are sufficient for 4 months, and sugar for 12 months. (Reporting by Nayera Abdallah and Mohamed Ezz; Writing by Tala Ramadan; Editing by Kirsten Donovan and David Evans)
