“The Ministry of Commerce stated on Monday that there has been great dissatisfaction and firm opposition from China against the recently conducted Investigation under Section 301 of the United States into policies of the semiconductor industry of China. In this context, the ministry criticized the investigation and said that this investigation would be in sync with the disruption and distortion of the actual international semiconductor industrial and supply chains, which, in turn, will harm US industries and consumers.
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The US has been heavily subsidizing its chip industry by legislative measures like the CHIPS and Science Act. Near 50% holds the semiconductor market around the globe is by US manufacturers and only 1.3% of the market share of the US is held by chips manufactured in China.
It urged the US to respect the facts and multilateral rules and to cease its erroneous practices immediately. The ministry also declared that it would actively watch for progress in the investigation and would take all necessary measures to resolutely defend its rights and interests.”