China puts priority on tech race with U.S. over economic growth

Government stimulus measures are small while chip and EV sectors get assistance

20230920N Beijing construction

China's real estate market shows little sign of emerging from its two-year slump. (Photo by Iori Kawate)

IORI KAWATE, Nikkei staff writer

BEIJING -- Beijing remains focused on pouring money into its chip industry in a tech race against the U.S. instead of funding powerful stimulus measures, further slowing its economic recovery from a real-estate-induced slump.

The policy seems to reflect Chinese President Xi Jinping's aim of protecting economic security amid rising tensions with Washington rather than achieving immediate growth.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.