China must strike a better balance between growth and security, said the Communist Party’s official newspaper in an article that echoed a previous statement by President Xi Jinping, who also denounced U.S. efforts to restrain the Asian nation.
People’s Daily stated, “We must be conscious that China’s growth faces both strategic possibilities and difficulties, while uncertainty and unpredictability have increased.” It stated, “We must better coordinate growth and security, give equal attention to both, and consider the security issue more when developing.”
During China’s National People’s Congress, Xi urged the private sector to assist resist “complete containment and oppression by Western countries led by the United States.” In his statement at the conclusion of the NPC on Monday, the president described security as the “basis for growth” and stability as the “prerequisite for prosperity.”
Xi utilized the annual parliamentary session to consolidate the party’s control over the government by establishing powerful committees to monitor the financial markets, science and technology, and social stability.
China Modifies Technologies and Data Regimes to Address US Restrictions
China’s long-term economic prospects are decreasing due to chronic obstacles such as an aging population and falling collective productivity. The growing tensions with the United States darken the prospects for international commerce and innovation.
Increasingly, Washington employs export bans, sanctions, and other punitive measures to prevent China from acquiring technology that may provide it an economic and military edge, notably in the semiconductor and artificial intelligence industries.
The United States has essentially banned all of China’s most sophisticated enterprises and research organizations in disciplines ranging from semiconductors and supercomputing to cloud computing and data mining. Access to US technology is restricted for national champions such as Huawei Technologies Co., Semiconductor Manufacturing International Corp., and most recently Inspur Group.
According to a copy of Ren Zhengfei’s address at a February conference provided by Shanghai Jiao Tong University on Friday, the Chinese technology giant Huawei Technologies Co. has identified alternatives for more than 13,000 components and over 4,000 circuit boards blacklisted by US sanctions.
Unidentified Chip Company May Help Huawei Evade U.S. Sanctions
Bloomberg reports that the United States is evaluating current export permits for Huawei as the Biden administration contemplates shutting the business off from all of its American suppliers.
Increasing efforts to create core technologies would be one of the government’s top goals this year, Chinese Premier Li Qiang said during the first plenary meeting of the State Council, or cabinet, on Friday, as reported by Xinhua.
Li also vowed to further reforms of state-owned businesses, promote the private sector, stabilize international trade, defuse big dangers, guarantee food security, fight for carbon neutral progress, and manage Covid.