Beijing is prioritising “strategic material security” under its new 15th five-year plan that elevates the supply and domestic stockpiling of critical resources to a matter of national security.
Under the blueprint, Beijing is positioning “key commodities” on the same strategic footing as food and energy security, saying China will take a more active role in strengthening “energy and resource supply security” by “preventing and mitigating major risks in systemically important areas”.
To achieve this, the Asian economic giant aims to address “weak links” in its supply chains, which are areas where it relies too heavily on foreign technology or companies.
By strengthening these sectors and ensuring stable supplies of raw materials, including oil, minerals and metals, China intends to protect its industries from global trade shocks and ensure its factories continue running during international crises to boost economic self-reliance and long-term stability.
Zhou Yuyuan, deputy director of the Institute for Foreign Policy Studies at the Shanghai Institutes for International Studies, said these “weak links” were identified by heavy import dependence, exposure to foreign export controls and reliance on US-patented technology.
“Due to the long-term hi-tech blockade imposed on China by the US and its allies, including in areas such as semiconductor equipment, industrial software, high-end chips and aero-engines, China is accelerating its pace of self-reliance and domestic substitution,” Zhou said.
