Economic bullying of US won’t hinder rise of Chinese tech firms

China urges the US not to take the wrong approach and says it will take the necessary measures as appropriate to safeguard the legitimate rights and interests of Chinese enterprises, Chinese Ministry of Commerce (MOFCOM) spokesperson He Yadong said at a regular press conference on Thursday, reiterating China’s clear and firm stance regarding intensified US moves targeting Chinese companies.

Chinese experts said that the intensified US efforts to curb Chinese companies and Chinese industry from technological innovation have so far proved a failure, as technology advancement for self-reliance is underway. Meanwhile, the US moves will once again backfire on US companies, experts said.

The remarks come as the Biden administration is reportedly considering blacklisting a number of Chinese semiconductor firms linked to Huawei Technologies Co, after the telecom company notched a significant technological breakthrough last year, Bloomberg reported.

In responding to the reported moves, the MOFCOM spokesperson said that China has consistently opposed politicizing and weaponizing economic, trade and technological issues.

In recent years, the US has abused export control measures and unjustly sanctioned and suppressed Chinese companies, seriously disrupting global industrial and supply chains, harming others and itself, He said.

If the US, using the excuse of alleged affiliations, extends its sanctions beyond Huawei and targets more Chinese enterprises, it would be a typical act of economic bullying, violating international economic and trade rules, He said.

The Biden administration’s relentless attempts to crack down on China’s high-tech industry have failed to curb Chinese companies’ technology development. Instead, they have only pushed for independent research, domestic substitution and self-reliance, Chinese experts said.