Joanna Brysonwow. new 5 year plan has china cutting everything, EXCEPT "foundational" R&D which goes up 10%, exceeding the EU and maybe catching up the USA by 2028. Every provincial & municipal is to be judged by their innovation improvements. Improving also IP rights (in plan at least.)
Also wow. So here's how Chinese "subsidy" works (sorry, chatham rule meeting, if anyone has refs please reply!) VAT all goes to the government LOCAL TO WHERE THE PRODUCT IS MANUFACTURED. That LOCAL government is therefore incentivised to pay a huge share of VAT into ensure that company succeeds.
National government does NOT subsidise, and often can't even find out how much subsidy has been spent! This isn't just #plausibleDeniability. It also shows a much more decentralised version of governance and funding than the term #autocracy is usually taken to imply. #china #geoeconomics #AIEthics