CHINA on Monday vowed to take resolute measures to protect the legitimate rights and interests of Chinese enterprises in response to reports that the US implemented a new round of chip export restrictions targeting China.
The US latest export control measures targeting China further tighten export controls on China involving semiconductor manufacturing equipment, storage chips and other items, add 136 Chinese entities to the export control entity list, and expand long-arm jurisdiction, interfering in trade between China and third countries.
“This is a typical act of economic coercion and nonmarket behavior,” the Ministry of Commerce (Mofcom) said on Monday.
“The US talks one way and acts another, continuously broadening the concept of national security, abusing export control measures, and engaging in unilateral bullying. China firmly opposes this,” the Mofcom said.
The semiconductor industry is highly globalized, and the abuse of control measures by the US seriously impedes normal economic and trade exchanges among countries, seriously undermines market rules and international economic and trade order, and seriously threatens the stability of the global industrial chain and supply chain, the Mofcom noted.
Responding to a media question regarding the matter, China’s Ministry of Foreign Affairs spokesman Lin Jian also said that China firmly opposes the US’ overstretching the concept of national security, abusing export controls and maliciously blocking and suppressing China.
This type of behavior seriously violates the laws of market economy and the principle of fair competition, disrupts international economic and trade order, destabilizes global industrial and supply chains, and will eventually harm the interests of all countries, Lin said.
“China will take resolute measures to firmly defend the legitimate and lawful rights and interests of Chinese companies,” Lin said.
The reported export restrictions on chips by the Biden administration could disrupt the normal functioning of the global supply chain and industry chain, and potentially backfire on the US chip industry itself. China is a key market, and the development of the chip industry requires joint global efforts rather than by any single country, including the US, Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing, told the Global Times on Monday.
On Nov. 25, China’s Foreign Ministry had already slammed the US’ planned new restrictions on chip exports to China, and vowed to take resolute measures to firmly defend the legitimate and lawful rights and interests of Chinese companies.
Chinese Ministry of Commerce spokesman He Yadong said that China will “implement necessary measures” to safeguard the legitimate and lawful rights and interests of Chinese enterprises if the US continues to escalate export controls that target China.
Gao said that Chinese businesses have withstood US export curbs on China over the years. For the Biden administration, however, this move might represent its last large-scale attempt to whip up US hegemony to try to suppress development of China’s chip industry.
The US crackdown targeting chip exports, though aimed at Chinese companies, could also backfire and hurt American industries, Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Monday.
“At first glance, these trade tactics appear to target Chinese businesses and industries. However, they are ultimately self-destructive and could harm the US even more,” Li said.
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