Technology

Raimondo in trip to Beijing and Shanghai plans to raise Washington’s concerns about weak transparency in Beijing’s economic and national security data.

China’s Ministry of Commerce hit out on Thursday after US President Joe Biden signed an executive order to restrict US venture capital and private equity stakes in Chinese firms in key areas, including semiconductors.

China wants to boost its tech self-reliance, while the United States and its Western allies are blocking Chinese firms from accessing advanced chips.

US Secretary of State Antony Blinken met with the CEOs of US chips firms Intel, Qualcomm and Nvidia on Monday, while a Washington-based industry group also urged the Biden administration to avoid placing further restrictions on China.

China’s C919 narrow-body passenger jet went into commercial operation this year, but relies on imported parts and technology, especially from the US, with Washington wary of American-made civil aviation products being diverted for military use.

After ChatGPT burst onto the scene, China is looking to artificial intelligence to reinvigorate its economy that is haunted by a debt mountain, coronavirus-related aftershocks and demographic challenges.

A South Korean lawmaker said the Chinese ambassador once lobbied her to try and get China included in the US-led Chip 4 alliance, a group that included Japan, South Korea and Taiwan.

Semiconductor equipment sales to China fell in the first three months of the year – a sharp contrast to increased sales to North America and global markets in the same period.

The move comes amid questions over the chip development capability of Chinese smartphone makers, after the disbandment of Oppo’s in-house team.

Inspur, which is under US trade sanctions, and Lenovo are among the biggest buyers of Micron products, which are under a partial ban in China.

The Zhongguancun Forum is the first major international conference held in Beijing’s answer to Silicon Valley after the country’s Covid reopening.

Zhang Yiming’s Cool River Venture, incorporated on Monday, will invest mostly in technology-related industries, according to sources.

The Chinese commerce ministry says it firmly opposes Japan’s restrictions, which have dealt a fresh blow to its semiconductor industry.

The US technology research and advisory firm is also laying off most of its analysts in the country, sources said.

Beijing-based JA Solar is building a new plant in the US in another win for the Biden administration as its incentive-laden climate law continues to attract big foreign investments.

Profit slumped last quarter by the most in more than a decade as memory chip prices crashed. Samsung may have to rein in capital expenditure to conserve cash, Citigroup says.