Beijing [China]: China has voiced strong dissatisfaction and firm opposition to the US Section 301 investigation into its semiconductor industry policies, the Ministry of Commerce stated on Monday, according to Xinhua.
The Chinese Ministry of Commerce warned that the investigation could disrupt and distort global semiconductor industrial and supply chains, with adverse impacts on both US businesses and consumers.
Through legislative measures like the CHIPS and Science Act, the US has provided substantial subsidies to its domestic semiconductor industry. The Ministry highlighted that US semiconductor companies control approximately 50% of the global market share, Xinhua reported.
In comparison, Chinese-made chips represent just 1.3% of the US market, and the volume of chip exports from China to the US is significantly lower than imports from the US, according to a recent US Department of Commerce report cited by Xinhua.
China urged the US to respect the facts and abide by multilateral trade rules, calling for an immediate end to what it described as “misguided actions.” The Ministry further stated that it would closely monitor the investigation’s progress and take all necessary steps to safeguard China’s rights and interests.