U.S.' decision to restrict chip exports to China hurts both sides

The United States' decision to not sell its most sophisticated chips to China will hurt the interests of enterprises in both countries, said Ministry of Commerce on Thursday.

He Yadong, spokesman with the ministry, made the comments regarding U.S. Commerce Secretary Gina Raimondo's statement that the U.S. will continue to sell semi-conductor computer chips to China, but not its most powerful ones.

The measures taken by the U.S. to restrict chip exports to China not only violate market principles but also fragment the global semiconductor market, He said, adding that these actions not only harm the legitimate rights and interests of Chinese enterprises but also severely impact the interests of global semiconductor companies, including those from the United States.

China is as the world's largest semiconductor market, and artificially constraining the trade and economic cooperation between the Chinese and U.S. semiconductor industries is detrimental to both sides, He said.

China has consistently adhered to an open, inclusive, win-win approach and will continue to enhance its openness in an effort to promote global technological exchange and economic cooperation, He added.