Xi tells Dutch PM Rutte 'no force can stop' China tech progress
ASML announced this year that it had been blocked from exporting "a small number" of its advanced machines to China, amid reports of US pressure on the Dutch government.
ASML announced this year that it had been blocked from exporting "a small number" of its advanced machines to China, amid reports of US pressure on the Dutch government.
The relaxation comes as China tries to reverse a decline in foreign investment. The statement was released on the eve of a high-profile business forum in Beijing, where attendance is expected by chief executives from foreign corporations including Apple, Pfizer and FedEx Corp. "This is the govt's response to foreign companies' complaints," said Tom Nunlist, an analyst at consultancy Trivium.
Wang said that China-U.S. economic and trade cooperation is a stabilising force for bilateral relations, and that China is willing to work with the United States to create a fair, stable and predictable environment for business cooperation between the two countries, according to a ministry statement on Saturday.
Meanwhile the U.S. government is seeking to undermine China's ability to make its own chips, and has enlisted aid from the Dutch and Japanese governments in restricting equipment exports.
Beijing does not want a precedent to be set where a Chinese company is strong-armed into selling one of its most valuable assets, including an algorithm that is the envy of competitors, analysts say.
The lawsuit stemmed from Cook's comment on a Nov. 1, 2018, analyst call that although Apple faced sales pressure in markets such as Brazil, India, Russia and Turkey, where currencies had weakened, "I would not put China in that category."
The report, citing people familiar with the matter, added that an agreement on a total investment of $500 million to $600 million may be reached as soon as the coming weeks.
There were $32 billion of flows into cash and $13.3 billion into investment grade bonds, the largest inflow since September 2020, BofA said.
The United States has barred Chinese telecom companies from its market citing concerns about data, and designated Huawei and ZTE as threats, requiring U.S. carriers to remove their equipment from U.S. networks.
Beijing has in recent years made achieving technological self sufficiency a priority, hit hard by trade tensions with the United States which has restricted exports of chips and some other components to China.
Shares in chipmakers from industry leader Semiconductor Manufacturing International Corp. to Advanced Micro-Fabrication Equipment Inc. slid more than 2% as investors pondered the ramifications of greater state control, which has yielded mixed results so far.