China’s top international trade organization CCPIT: US' abuse of export control measures will seriously hinder the advance of chip industries in both China and the world

By Kate Yuan

(JW Insights) Feb 23 -- The US' abuse of export control measures will seriously hinder the development of chip industries in both China and the world, and undermine the stability of global supply chains, said Yang Fan, spokesman of China Council for the Promotion of International Trade (CCPIT) at a regular press conference on February 22.

Recently, the US, Japan, and the Netherlands reached an agreement to expand export control measures for chips to China. The US Department of Commerce included six Chinese entities in its Entity List.

“These practices have seriously trampled on market rules and the international economic and trade order. The semiconductor industry has already achieved globalization and is highly dependent on global division of labor and cooperation. The measures once again cast a new shadow on the recovery of the global economy,” Yang added.

She called for the business circles of all countries to work together to safeguard the security, stability and smoothness of the global industrial and supply chains, and jointly promote the revitalization of global trade and investment, and the recovery of the world economy.