China is embarking on a trillion-dollar campaign to develop next-generation technologies in an attempt to catapult the communist nation ahead of the U.S. in critical areas
China has embarked on a new trillion-dollar campaign to develop next-generation technologies as it seeks to catapult the communist nation ahead of the U.S. in critical areas.
Since the start of the year, municipal governments in Beijing, Shanghai and more than a dozen other localities have pledged 6.61 trillion yuan to the cause, according to a Wall Street Journal tally. Chinese companies, urged on by authorities, are also putting up money.
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