The sanctions imposed by the Biden administration have not discouraged President Xi Jinping from winning the technology war between China and the United States.
In a speech at the opening of the 20th Communist Party Congress, Xi Jinping said the focus will be on the country's strategic needs, gathering strength and winning the battle in key core technologies.
China will accelerate innovation in key areas to develop its own technology and move quickly to launch several key projects of strategic and long-term importance.
This indirectly shows how Beijing is dealing with new US restrictions on technology exports that could reduce its ability to develop semiconductors, supercomputers, surveillance systems and advanced weapons.
Earlier this month, the US Commerce Department unveiled sweeping rules that limit the sale of semiconductors and chip-making equipment to China.
The country also added 31 organizations to its unverified list, including Yangtze Memory Technologies Co. And a subsidiary of leading chip equipment manufacturer Naura Technology Group Co., by limiting the ability to buy equipment from overseas.
The move is the most aggressive the Biden administration has ever taken in trying to prevent China from developing capabilities it sees as a threat.
