We're in a Battle for Global Influence Against China: Nicholas Burns

Nicholas Burns, former US ambassador to China, joins for an extended discussion on US-China relations and where they stand in a second Trump administration. He speaks with Bloomberg's Tom Keene and Paul Sweeney.

President Xi Jinping’s government is considering a new version of its master plan to boost production of high-end technological goods, according to people familiar with the matter, signaling its intention to keep a firm grip on manufacturing as President Donald Trump looks to bring more factories back to the US.

Officials are drawing up plans for a future iteration of Xi’s flagship “Made in China 2025” campaign, according to the people, who asked not to be identified discussing deliberations that aren’t public. The plan over the next decade would prioritize technology including chip-making equipment, one of the people said, adding that it may not carry a similar name to avoid drawing criticism from Western countries.

Policymakers who are separately preparing Beijing’s next Five-Year Plan starting in 2026 are looking to maintain the share of manufacturing in gross domestic product at a stable level over the medium to long-term, one of the people said, underlining how the rebalancing of China’s economy sought by the US may prove elusive.

As part of deliberations, officials have discussed whether the next Five-Year Plan should include a numerical target for consumption in terms of its share in China’s GDP, according to the person. They are currently leaning against that, as authorities are concerned they lack effective tools to spur spending by households and are reluctant to commit to a specific number, the person said.

The content of these plans is still being debated and could undergo substantial changes before they are released. The Five-Year Plan will be made public at the next annual legislative session in March 2026, while the next manufacturing blueprint could be unveiled at any time, either before that meeting or afterward, one of the people said.

The National Development and Reform Commission, China’s top economic-planning agency known as the NDRC, didn’t respond to Bloomberg inquiries on the plans.

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