(Bloomberg) -- President Xi Jinping told officials to accelerate China’s security defenses as the country faces “notably” increased risks, the latest call to tighten Beijing’s grip on the nation’s information networks.

“The current national security issues we are facing have become significantly more complex and difficult,” Xi said at the first meeting of the National Security Commission since he won a third term in office last October, according to state broadcaster China Central Television.

China should also strengthen regulations over internet data and artificial intelligence, and “better maintain opening up security,” the gathered officials said, according to CCTV. 

The meeting also approved a number of documents relating to the construction of a “National Security Risk Monitoring and Early Warning System,” without providing additional details. The state-run Global Times reported separately on Wednesday that such a system would allow China to monitor national security risks in real time and cover fields such as financial, energy and military security, citing Chinese observers. 

Shares in Chinese information security product developer NSFOCUS Technologies rose as much as 20% on Wednesday morning trading in Shenzhen, while Beijing Integrity Technology, which produces and sells cybersecurity products, jumped as much as 8.4%. 

Politburo Standing Committee members, Premier Li Qiang, China’s top legislator Zhao Leji, and Xi’s chief of staff Cai Qi attended the meeting on Tuesday. All three serve as vice chairmen of the National Security Commission.

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Over his decade in power, Xi has increasingly prioritized security over development, deepening concerns China is moving away from the pro-growth policies that powered its decades-long economic boom. 

In recent months, Beijing has passed new counter-espionage legislation expanding the list of activities that can be considered spying, launched a nationwide anti-espionage crackdown on consulting firms, and barred chips from US-based Micron Technology Inc. in some critical sectors after a cybersecurity review. 

While Xi’s fixation on security has raised concerns over China’s ability to attract foreign investors, this week Beijing made it clear it welcomes certain overseas capital. Tesla Inc.’s Elon Musk met with Foreign Minister Qin Gang in the capital on Tuesday, while JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon sat down with Shanghai party chief Chen Jining on the same day.

--With assistance from Jeanny Yu.

(Updates with market moves in fourth paragraph and more details in seventh paragraph.)

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