Joe Biden Blocks Totally, Xi Jinping Immediately Reacts Tech – 15 hours ago

Jakarta, CNBC Indonesia – China is racking its brains to save its industry after the total blockade issued by the United States (US) government. The local government quickly decided to replace all products used with locally produced products.

China is trying to increase its spending to support local self-reliance. The aim of this policy is for the country to no longer depend on Western technology.

Last October, Joe Biden’s government issued regulations blocking a number of technologies for China. This year the US expanded the ban and will likely continue to renew it every year.

Facing these regulations, China increased its spending in various sectors. This report comes from Reuters which cites tenders from government, military, and state-related entities.

There has been an increase in China’s efforts. Last year BUMN was asked to replace all office software systems with local products by 2027.

This step was also continued to other sectors. Two sources said the next targets were the telecommunications and financial sectors, quoted from ReutersThursday (26/10/2023).

Specifically for the financial sector, state-backed researchers say digital finance will be an industry that has the potential to be hacked by the West.

Tenders conducted, starting from BUMN, government and military, have also continued to increase over the last year. The recorded number has gone from 119 tenders to 235 since September last year.

The project value was also reported to have tripled from the previous year. Reuters noted that based on the Ministry of Finance’s database, the amount reached 156.9 million yuan.

However, this effort is also hampered by China’s ability to manufacture its own chips. So it will prevent Beijing from making completely local products.

[Gambas:Video CNBC]

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