Xi Jinping aims to win US tech battle

Chinese President Xi Jinping promised that his country would win the fight to develop strategically important technologies. The leader also stressed Beijing's concerns about US moves to separate the country from cutting-edge capabilities, which are represented by chips being developed in China.

In his speech on Sunday at the opening of the ruling Communist Party congress, the Chinese President said the government's focus will be on the country's national strategic needs. The political leader also added that new ways to conduct their own and advanced scientific and technological research will be found and that it is China that will win the battle of key technologies.

Xi Jinping said China will speed up innovation in areas critical to "technology self-reliance" adding that China will strive to launch a number of major national projects of strategic, big-picture and long-term importance as soon as possible.

The Chinese President's comments illustrate that China plans to fight the US by imposing new restrictions on technology exports. These restrictions may improve the ability of the PRC to develop various sectors of its economy. These industries include: the development of semiconductors, supercomputers, surveillance systems, and modern weapons.