WAGAS promised to keep you abreast of the evolving details in China’s 14 five-year plan. Prior announcement included food self-sufficiency which gave rise to a boost in gene technologies in a bid to secure it future harvests. Other developments included a concrete plan to use Quantum computing to ensure the compliance to virus related regulations as well as to relieve regular computer of the added burden of some of the most complex calculations involved with scientific breakthrough which recently include space and undersea exploration. In the light of the latest moon and mars successful missions. Their speed of completion and international cooperation point to a new leaf in government policy. Clearly many policies are focusing on a internal self-reliance policy, this seems to be an effort to avoided to current economic instability felt by many.

This 14th five-year plan calls for R&D spending to grow by 7% annually through 2025. It also projects 20% of its energy mix to come from non-fossil fuel sources within a decade, with a long-term goal of full energy independence by 2060. This includes a working blueprint for research in the polar regions and undersea, with the aim of combating the nearly irreversible impact of climate change. 

AI & Quantum Computing will be more widely used as an extension of a large increase in the Financial-technology sector. The first concrete step is a national digital currency, which very recently began to be tested in major cities. This is another sign of China’s embrace of cutting-edge tech. Just to ensure that these developments, are not misconstrued for isolationism, it is of utmost importance to state in no uncertain terms that the ministry of economics has implemented measures to shorten their business blacklist, 

In 2020, Chinese VC-backed companies raised more than $57 billion, the second highest in a decade regardless of a large setback in 2019. The majority of these were tech startups. So, in the light of all these positive developments where does WAGAS fit in since things have become so easy?  

Regardless of these administrative changes and the relaxation of certain types of regulations does not in any way guarantee the success of ventures which are brave enough to take the leap into this promising, ever evolving market. Therefore, some added securities are needed. Cultural and linguistic expertise is necessary to facilitate many transitional steps including seed funding, initial hiring, housing and accommodations as well as day-to-day consulting services on a 24/7 basis. This opportunity is more inviting than ever, since the above-mentioned industries promises to be just the tip of the iceberg. 

What China’s five-year plan could mean for venture capital’s tech sectors | PitchBook