China vows to 'safeguard' national security with new laws at conclave

China’s top legislators on Friday vowed to enact a slew of new laws to “modernise China’s system and capacity for national security” while safeguarding sovereign interests, a sign of what some analysts say is a heightened focus on perceived security threats.

The roughly 170-member National People's Congress Standing Committee (NPCSC), gathering at the annual meeting of parliament in Beijing, pledged to enact legislation including an emergency management law and atomic energy law.

They also said they would revise laws on national defence education and cybersecurity this year, according to a work report delivered by the NPCSC’s chairman and the Communist Party’s third-ranked official, Zhao Leji.

The annual legislative plan had an increased focus on national security, in line with President Xi Jinping’s growing focus on preventing internal and external threats in response to intensifying geopolitical competition. China’s cybersecurity law, enacted in 2016, is a cornerstone of its big tech regulation. Beijing has in the past three years tightened regulation over how its companies store and transfer user data, citing national security concerns. Experts say Chinese President Xi Jinping has turned national security into a key paradigm that permeates all aspects of China’s governance.

China last month broadened its state secrets law to include “work secrets” in the scope of restricted sensitive information, and enacted a controversial counter-espionage law last year.

Hong Kong issues draft for new national security Bill

Hong Kong on Friday published its draft of a new national security law, a document some lawyers said broadened what could be considered sedition and state secrets, with tougher penalties for any one convicted of those crimes and several others.

The draft, which also includes new laws encompassing treason, espionage and external interference, is being closely watched by foreign diplomats and businesses who fear it could further dent freedoms in the financial hub already subjected to a China-led crackdown.  

China prepares $27 bn chip fund to counter US restrictions

China is in the process of raising more than $27 billion for its largest chip fund to date, accelerating the development of cutting-edge technologies to counter a US campaign to thwart its rise.

The National Integrated Circuit Industry Investment Fund is amassing a pool of capital from local governments and state enterprises for its third vehicle that should exceed the 200 billion yuan of its second fund, according to people familiar with the matter.