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CHINA PRESS: China To Take Measures Against U.S. Chips Trade Probe

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

China has urged the U.S. to immediately stop its 'wrong practices', as Beijing will take all necessary measures to defend its rights and interests, a spokesman for the Ministry of Commerce said after the U.S. launched a new probe into the Chinese semiconductor industry. It’s self-contradictory for the U.S. to accuse China of so-called "non-market practices", as the U.S. provides huge subsidies to its chip industry, and American companies account for nearly half of the global chip market, the spokesman said, according to a statement on the MOFCOM website.

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China has urged the U.S. to immediately stop its 'wrong practices', as Beijing will take all necessary measures to defend its rights and interests, a spokesman for the Ministry of Commerce said after the U.S. launched a new probe into the Chinese semiconductor industry. It’s self-contradictory for the U.S. to accuse China of so-called "non-market practices", as the U.S. provides huge subsidies to its chip industry, and American companies account for nearly half of the global chip market, the spokesman said, according to a statement on the MOFCOM website.