China has identified the ongoing digital revolution as its first opportunity in modern times to compete with other international powers, especially the U.S. The competition serves as the driving force for enhancing innovation and finding new sources of growth for the Chinese economy. The advantage of technological development is that it will allow China to become a “major cyber power,” introduce its own technological standards worldwide, raise its position in global value chains, and influence the world economy. But the process is seriously challenged by the change in China’s relations with the U.S., concerns in the EU about Chinese investments as well as domestic centralisation of power.