Source: World Wide Web
On August 25, local time, US President Biden signed an executive order aimed at implementing the Chip and Science Act of 2022. Regarding the bill, China's Ministry of Foreign Affairs and Ministry of Commerce have previously made it clear that China firmly opposes disrupting international trade.
According to the White House website, the executive order signed by Biden on the 25th set 6 priorities for the implementation of the Chip and Science Act, and also set up a 16-member cross-departmental steering committee, co-chaired by the US President's National Security Adviser Sullivan and other 3 people, other members include US Secretary of State Blinken, Treasury Secretary Yellen, Secretary of Defense Austin and Commerce Secretary Raymondo.
Just a dozen days ago, Biden signed the Chip and Science Act into law on August 9, and he explicitly mentioned China several times in his speech at the signing ceremony. While the bill provides huge subsidies to chipmakers in the United States, it requires that these companies must agree to "not develop the manufacture of precision chips in China."
In this regard, Chinese Foreign Ministry spokesman Wang Wenbin reprimanded on the 10th that the US bill claims to be aimed at enhancing the competitiveness of the US technology and chip industry, but it provides huge subsidies to the US local chip industry, implements differentiated industrial support policies, including some provisions restricting the normal investment and economic and trade activities of enterprises in China and normal Sino-US scientific and technological cooperation, which will cause distortions to the global semiconductor supply chain and disrupt international trade. The so-called "protective measures" of the law show strong geopolitical overtones and are another example of the economic coercion of the United States.
Shu Jueting, spokesperson of the Ministry of Commerce of China, said on the 18th that the United States introduced the "Chip and Science Act" to provide huge subsidies and tax incentives for the local chip industry in the United States, which is a typical differentiated industrial support policy. Some of these provisions restrict the normal economic and trade and investment activities of relevant enterprises in China, which is obviously discriminatory, seriously violates market laws and international economic and trade rules, and will distort the global semiconductor supply chain and disrupt international trade. China firmly opposes this. The implementation of the US method should conform to the relevant rules of the WTO and the principles of openness, transparency and non-discrimination, which is conducive to maintaining the security and stability of the global industrial chain supply chain and avoiding fragmentation. China will continue to pay close attention to the implementation of the bill and take effective measures to safeguard its legitimate rights and interests when necessary.