China vows to beef up supply chains in 2024 for economic security

Key meeting also focuses on dealing with property crisis, local debt

20231212N china chip

China faces a growing rivalry with the U.S. on semiconductors and other technology. © Reuters

IORI KAWATE, Nikkei staff writer

BEIJING -- China will further fortify its supply chains, Communist Party leaders said at a key policy-setting meeting ended Tuesday, indicating that economic security is a priority amid escalating tensions with the U.S. over advanced chip and other technology.

President Xi Jinping and other Communist Party leaders discussed economic priorities for 2024 at the two-day annual Central Economic Work Conference.

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