China's President Xi Says Will Step Up Tech R&D In Response To Bottlenecks, Constraints In Areas Including Integrated Circuits, Industrial Motherboards, Basic Software, Advanced Materials, Scientific Research Instruments
Portfolio Pulse from Benzinga Newsdesk
China's President Xi Jinping announced plans to increase research and development in technology sectors such as integrated circuits, industrial motherboards, basic software, advanced materials, and scientific research instruments to address current bottlenecks and constraints.
June 24, 2024 | 2:04 pm
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The announcement by President Xi Jinping to enhance R&D in various tech sectors could positively impact the iShares China Large-Cap ETF (FXI), which includes major Chinese tech companies.
The focus on increasing R&D in critical technology sectors is likely to benefit major Chinese tech companies, which are part of the FXI ETF. This could lead to positive investor sentiment and potential short-term gains for FXI.
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