Key technologies – Xi Jinping warns China’s tech industry to hurry up

Given the rapid IT development and the emergence of breakthrough new technologies at any time, it is necessary to constantly promote innovation and a high degree of technological independence. Xi’s call for greater economic independence in the country in the high-tech sector coincides with a visit to Beijing by US Treasury Secretary Janet Yellen.

Relations between the two largest economic powers, China and the US, had deteriorated recently. Among other things, the US has already restricted semiconductor exports to China and is considering further cuts in AI chips. Conversely, the People’s Republic this week surprisingly announced export controls on certain raw materials for the production of chips. From Beijing it was said that this was “just the beginning”.

In a conversation with Prime Minister Li Qiang in Beijing, Yellen campaigned for healthy competition under fair conditions, according to the text of the speech that had been distributed in advance. She resisted a mindset where everything goes to the winner. She hopes that her visit will contribute to more regular communication and to prevent misunderstandings, said the minister. However, under certain circumstances, measures would also be taken to protect American national security. However, this should not jeopardize China-US relations on a larger scale.