US President Joe Biden said Chinese leader Xi Jinping was concerned about US expansion of local semiconductor chip manufacturing, Bloomberg reported Thursday (27).
Biden signed the Chip and Science Act (CHIPS Act) at the White House on August 9 and plans to allocate $ 280 billion to promote innovation and technology centers in the United States and promote local semiconductor manufacturing capacity.
Biden Thursday at Micron (MU-USA) at his Syracuse, New York, factory: “I heard from Xi Jinping that he is a little concerned about this, and the chip bill will help the US outpace the rest of the world in chip manufacturing.”
“Micron’s investment alone will increase America’s share of global memory chips and manufacturing by 500 percent, and we’re reversing that,” Biden said.
On the same day, Alan Estevez, Undersecretary of Commerce for Industry and Security, stressed that the United States should reach an agreement with global allies that will limit the export of semiconductor manufacturing technology to China.
“We hope to reach an agreement in the short term,” said Estevez. If implemented, it would amplify the US effect on restricting China’s access to advanced semiconductor technology and combat Chinese use of high technology to develop its military and monitor its people.
The recent introduction of the US chip bill, the formation of a “Chip 4” semiconductor alliance with Taiwan, Japan and South Korea, and the expansion of the ban on export restrictions on Chinese semiconductors have increased pressure on China.
On the 20th of this month it was reported that China’s Ministry of Industry and Information Technology (MIIT) urgently convened a meeting of executives from leading Chinese semiconductor companies such as Yangtze River Storage and Sugon to discuss the possible damage caused by the US ban on semiconductors and countermeasures. Most participants believed that the expansion of the US ban on China would hit the Chinese semiconductor industry hard, and the ambition of chip autonomy may be difficult to achieve.
NasdaqThe index fell 178.32 points, or 1.63 percent, to close at 10,792.68 on Thursday.Semiconductor of PhiladelphiaThe index fell 35.7 points, or 1.50 percent, to close at 2,340.6.
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