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MNI BRIEF: China Monitoring U.S. Chips Act Impact - MOFCOM

MNI (Singapore)

Beijing will pay close attention to the U.S. implementation of the Chip and Science Act recently signed by President Joe Biden and take any necessary measures to safeguard China's legitimate rights and interests, said Shu Jueting, spokeswoman for the Ministry of Commerce at a briefing on Thursday.

The Act provides huge subsidies and tax incentives for the U.S. chip industry and restricts normal business activities of relevant companies in China, which will distort the global semiconductor supply chain, according to Shu.

China also opposes the launch of the U.S.-Taiwan 21st Century Trade Initiative negotiations, and, again, will take necessary measures to safeguard sovereignty and security, said Shu, urging the U.S. to abide by the one-China principle.

Policy NewsAPACChinaBriefStoryRegion
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Policy NewsAPACChinaBriefStoryRegion
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