China speaks out on latest US sanctions, determined to protect semiconductor businesses

China reacts to US tightening export restrictions. (Source: Bloomberg)

Mr. Ha A Dong made the statement at a press conference when asked about information that President Joe Biden's administration is planning to introduce new export restrictions targeting up to 200 Chinese semiconductor companies.

Such actions seriously undermine the international economic and trade order and disrupt the security and stability of the global industrial and supply chain, he said.

At the same time, it harms the interests of businesses in both China and the US, as well as the global semiconductor industry."

If the US side persists in increasing restrictions, a spokesperson for the Chinese Ministry of Commerce said that Beijing will take necessary measures to resolutely protect the legitimate rights and interests of enterprises in the world's second largest economy.

Earlier, Reuters news agency reported that the world's largest economy could expand its trade restriction list to include 200 more Beijing chip companies.

The US Chamber of Commerce emailed its members about these new regulations, while also revealing an upcoming ban on High Bandwidth Memory (HBM) exports.

If accurate, it would suggest that Washington is pushing for increasingly stringent export controls to further restrict access to Chinese semiconductors.

The first expansion of restrictions will involve regulations on shipping chipmaking equipment to China, the sources said.