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China accuses US of economic despotism towards other states

In early October, the US restricted access to semiconductor chips produced under US technologies around the world to 28 Chinese technology companies

BEIJING, December 14. /TASS/. Washington is pursuing a policy of economic coercion and targets the scientific and technological sectors of other states, Chinese Foreign Ministry Spokesperson Wang Wenbin told a briefing on Wednesday.

"The US has repeatedly generalized the national security concept, abused export control measures, used discriminatory and unfair methods against foreign companies, as well as politicized and militarized technological issues," Wang Wenbin said. "This is nothing but flat-out economic coercion and technological persecution," he stressed.

According to the diplomat, this stance by the US inflicts major damage to trade and economic exchanges and cooperation between Chinese and US companies, threatening the stability of global production chains.

On Wednesday, Bloomberg reported, citing sources, that the US will slap sanctions on over 30 Chinese technology companies this week, including the country's largest microchip manufacturer YMTC.

In early October, the US restricted access to semiconductor chips produced under US technologies around the world to 28 Chinese technology companies. The restrictions apply not only to shipments from US companies, but also to any firm in the world that uses US semiconductor technologies. Exporters must obtain a license from the U.S. Department of Commerce to supply such products to Chinese companies.