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Yahoo
3 days ago
- Business
- Yahoo
China Vows ‘Forceful Measures' After Taiwan's Huawei Export Curb
(Bloomberg) — Beijing vowed to respond to Taiwan's 'technological blockades' after the self-ruled island blacklisted Chinese companies including Huawei Technologies Co., limiting their ability to develop cutting-edge artificial intelligence. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice US Renters Face Storm of Rising Costs US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags 'We will take forceful measures to resolutely safeguard the normal order of cross-strait economic and trade exchange,' Taiwan Affairs Office spokeswoman Zhu Fenglian said Wednesday at a regular briefing in Beijing. She was responding to a question about Taiwan' recent curbs on Chinese companies, and didn't elaborate on how Beijing would respond. Taiwan last week joined a yearslong US campaign to curtail China's technological ascent by adding the country's AI and chipmaking champions — Huawei and Semiconductor Manufacturing International Corp. — to its entity list. That bars the island's firms from doing business with the pair without a license, the first time Taipei has used the blacklist on major Chinese companies. The new restrictions are likely to, at least partially, cut off Huawei and SMIC's ( access to Taiwan's plant construction technologies, materials and equipment essential to build AI chips, like those made by Taiwan Semiconductor Manufacturing Co. (TSM) for the likes of Nvidia Corp. (NVDA). Zhu condemned Taiwan's decision as 'despicable' and claimed it displayed President Lai Ching-te's loyalty to the US government. President Donald Trump's administration has urged Taipei to take more ownership over chip restrictions on China, Bloomberg News previously reported. 'Attempts to decouple will not delay the progress of industrial upgrading on the mainland,' Zhu said, adding that such actions will only damage the competitiveness of Taiwanese enterprises and the island's economy. Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Sign in to access your portfolio
The Sun
3 days ago
- Business
- The Sun
China calls Taiwan's tech blacklist ‘despicable'
BEIJING: Beijing hit out Wednesday at Taiwan's inclusion of two Chinese tech giants on an exports blacklist, calling it 'despicable' and vowing to defend its interests. China's Huawei and Semiconductor Manufacturing International Corp (SMIC) were among 601 entities from several countries added to a 'strategic high-tech commodities entity list' by the Taiwanese government this month. Taiwan is a global chip powerhouse but companies based there must now obtain permission from the government to ship high-tech products to Huawei, SMIC or any other entity on the list. Zhu Fenglian, spokeswoman for Beijing's Taiwan Affairs Office, said Taipei was attempting to curry favour with the United States by 'repeatedly resorting to sinister and evil tactics'. 'These despicable actions are disgraceful,' Zhu said when asked about the Taiwanese blacklist. 'We will take effective measures to resolutely maintain the normal order of cross-strait economic and trade exchanges and cooperation, and safeguard the interests and well-being of compatriots on both sides of the Taiwan Strait,' she said in comments published by state broadcaster CCTV. Taiwan's move comes as Chinese tech companies face increasing export restrictions imposed by the United States. Washington has expanded efforts to curb exports of state-of-the-art chips to China over concern that they could be used to advance Beijing's military systems and other tech capabilities. The United States recently unveiled guidelines warning firms that using Chinese-made high-tech AI semiconductors, specifically Huawei's Ascend chips, would put them at risk of violating US export controls.
Time of India
3 days ago
- Business
- Time of India
China on cusp of seeing over 100 DeepSeeks, ex-top official says
China's advantages in developing artificial intelligence are about to unleash a wave of innovation that will generate more than 100 DeepSeek-like breakthroughs in the coming 18 months, according to a former top official. The new software products 'will fundamentally change the nature and the tech nature of the whole Chinese economy,' Zhu Min , who was previously a deputy governor of the People's Bank of China, said during the World Economic Forum in Tianjin on Tuesday. Zhu, who also served as the deputy managing director at the International Monetary Fund, sees a transformation made possible by harnessing China's pool of engineers, massive consumer base and supportive government policies. The bullish take on China's AI future promises no letup in the competition for dominance in cutting-edge technologies with the US, just as the world's two biggest economies are also locked in a trade war. The US sees China as a key rival in the field of AI, especially after DeepSeek shocked the global tech industry in January with its low-cost but powerful model. In addition to efforts to prevent China from securing advanced semiconductor manufacturing equipment, Washington is blocking Chinese companies from acquiring Nvidia Corp.'s high-end AI chips for training, citing national security concerns. Beijing is now pinning its hopes on domestic tech giants like Huawei Technologies Co. when it comes to advanced chipmaking. The emergence of DeepSeek triggered a rally in China's tech stocks, fueling optimism over Chinese competitiveness despite tensions over trade with the Trump administration and economic challenges at home. Bloomberg Economics estimates the contribution of high-tech to China's gross domestic product climbed to about 15% in 2024 — from near 14% a year earlier — and could exceed 18% in 2026. The World Economic Forum's annual meeting in Tianjin, also known as 'Summer Davos,' has attracted global business executives and world leaders. Singaporean Prime Minister Lawrence Wong and Vietnamese Prime Minister Pham Minh Chinh are scheduled to speak at the three-day event. Chinese Premier Li Qiang is expected to address the conference during the opening plenary on Wednesday and meet with participants. Despite a tariff truce negotiated a month ago with the US, American levies are still at high levels, with a more lasting deal still in question. Analysts polled by Bloomberg forecast GDP growth will slip to 4.5% this year, significantly below the official target of around 5%. It expanded 5.4% in the first quarter. 'The uncertainty brought by US tariff policy is an important factor that may lead to negative growth in global trade this year,' Zhu told reporters on the sidelines of the forum. 'The entire trade industrial chain has begun to slow, investments has begun to stop, so the impact is greater than the actual tariff rate.' Zhu said the US will likely see inflation pick up starting in August, as it takes some time for tariffs to feed through to the economy and for companies to use up stockpiles they accumulated before Trump hiked duties. Despite shocks from abroad, China's GDP likely grew faster than 5% in the second quarter, according to Huang Yiping, a member of the Chinese central bank's monetary policy committee. Speaking on another panel at the Tianjin forum, he pointed to the economy's solid performance in April and May. But despite unexpectedly strong retail sales in May, when they grew at the fastest pace since December 2023, Huang said China still needs to address the issue of insufficient consumption. 'Boosting consumption is still a big challenge, partly because the global external market is less open as before,' said Huang, who's also dean of the National School of Development at Peking University. 'For a large country, you can't continuously export your excess capacity,' Huang said. 'That's why I think the policy priority now is to first focus on domestic circulation.'
New Straits Times
3 days ago
- Business
- New Straits Times
China calls Taiwan's tech blacklist 'despicable'
BEIJING: Beijing on Wednesday slammed Taiwan's inclusion of two major Chinese technology firms on an export blacklist, calling the move "despicable" and vowing to defend its interests. China's Huawei and Semiconductor Manufacturing International Corp (SMIC) were among 601 entities from several countries added to a "strategic high-tech commodities entity list" by the Taiwanese government earlier this month. Taiwan, a global semiconductor powerhouse, now requires companies to obtain government approval before exporting high-tech products to Huawei, SMIC, or any other blacklisted entity. Zhu Fenglian, spokesperson for Beijing's Taiwan Affairs Office, accused Taipei of trying to curry favour with the United States through "repeatedly resorting to sinister and evil tactics". "These despicable actions are disgraceful," Zhu said when asked about the blacklist. "We will take effective measures to resolutely maintain the normal order of cross-strait economic and trade exchanges and cooperation, and safeguard the interests and well-being of compatriots on both sides of the Taiwan Strait," she said in comments aired by state broadcaster CCTV. Taiwan's decision comes amid tightening export restrictions on Chinese tech firms by the United States. Washington has intensified efforts to curb exports of advanced chips to China, citing national security concerns over potential use in military and other strategic technologies. The United States recently issued new guidelines warning that companies using Chinese-made high-tech AI chips, especially Huawei's Ascend line, may be in breach of US export controls.
Time of India
3 days ago
- Business
- Time of India
China calls Taiwan's tech blacklist 'despicable'
Beijing hit out Wednesday at Taiwan's inclusion of two Chinese tech giants on an exports blacklist, calling it "despicable" and vowing to defend its interests. China's Huawei and Semiconductor Manufacturing International Corp (SMIC) were among 601 entities from several countries added to a "strategic high-tech commodities entity list" by the Taiwanese government this month. Taiwan is a global chip powerhouse but companies based there must now obtain permission from the government to ship high-tech products to Huawei, SMIC or any other entity on the list. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo Zhu Fenglian, spokeswoman for Beijing's Taiwan Affairs Office, said Taipei was attempting to curry favour with the United States by "repeatedly resorting to sinister and evil tactics". "These despicable actions are disgraceful," Zhu said when asked about the Taiwanese blacklist. Live Events "We will take effective measures to resolutely maintain the normal order of cross-strait economic and trade exchanges and cooperation, and safeguard the interests and well-being of compatriots on both sides of the Taiwan Strait," she said in comments published by state broadcaster CCTV. Taiwan's move comes as Chinese tech companies face increasing export restrictions imposed by the United States. Washington has expanded efforts to curb exports of state-of-the-art chips to China over concern that they could be used to advance Beijing's military systems and other tech capabilities. The United States recently unveiled guidelines warning firms that using Chinese-made high-tech AI semiconductors, specifically Huawei's Ascend chips, would put them at risk of violating US export controls.
