Why was ChatGPT not developed in the PRC? This strikes at the core of Beijing’s scitech self-confidence and weighs heavily on the PRC tech community. Deeming AI-generated content (AIGC) a ‘future industry,' Beijing aspires to lead this new wave of innovation.
Beacon of PRC self-reliance, a ‘G60 scitech innovation corridor’ links Shanghai with high-tech hubs in the Yangtze Delta (Jiangsu, Zhejiang and Anhui). Localities are now 'guided' to smile on regions that integrate and collaborate. Zero-sum competing projects, hallmark of the old regional tournament system, are out. This is a policy pivot.
As innovative firms look for finance in a highly leveraged market, promise is seen in different types of securitised assets. October 2023’s Central Financial Work Conference took up the call to build a ‘financial major power’, signalling another wave of financialisation.
under the umbrella term ‘socialist rule by law’, the Party is 'centralising' and 'standardising' grassroots governance, financial regulation, and judicial enforcement; control is to be tightened across both public and private sectors