China Gains Ground on US in Hi-Tech ‘Tug of War’, as Beijing Spends Billions on National Champions
June 8, 2022
China has been gaining global market share in hi-tech industries at the expense of the United States, according to a new report, as the race for tech supremacy between the two countries heats up.
Measured across key seven sectors, China’s share of the advanced technology market leapt from less than 4 per cent in 1995 to 21.5 per cent in 2018, said the Information Technology & Innovation Foundation (ITIF) on Wednesday.
The sectors covered in the report include: IT and information services; computer, electronic and optical products; electrical equipment; machinery and equipment; motor vehicle equipment; other transport equipment; and pharmaceutical products.
