China's new tech initiative could exclude foreign markets

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The European Union Chamber of Commerce in China has raised concerns about Beijing’s plans to develop the nation’s hi-tech prowess, arguing that Chinese firms will be given an unfair advantage through government support and their foreign competitors will be given limited or no access to mainland markets.

The world should benefit from more innovative Chinese products and services, but “not at the expense of inhibiting market forces through state driven schemes”, the report added.