BEIJING/SHANGHAI: China's export controls on metals used in making semiconductors are 'just a start', an influential trade policy adviser said on Wednesday (Jul 5), as it ramps up a tech fight with the US d
Shares in some Chinese metals companies rallied for a second session, with investors betting that higher prices on gallium and germanium, which Beijing's export restrictions target, could boost revenues.
Announced on the eve of US Independence Day and just before Yellen's planned visit to Beijing from Thursday, analysts said it was clearly timed to send a message to the Biden administration, which has been targeting China's chip sector and pushing allies such as Japan and Netherlands to follow suit. On Wednesday, former Vice Commerce Minister Wei Jianguo told the China Daily newspaper that countries should brace for more should they continue to pressure China, describing the controls as a"well-thought-out heavy punch" and"just a start".
Washington is considering new restrictions on the shipment of high-tech microchips to China, following a series of curbs over the past few years.
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