financetom
Business
financetom
/
Business
/
US chips are 'no longer safe' to buy, Chinese industry bodies say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US chips are 'no longer safe' to buy, Chinese industry bodies say
Dec 3, 2024 3:55 AM

BEIJING, Dec 3 (Reuters) - Chinese companies should be

wary of buying U.S. chips as they are "no longer safe" and buy

locally instead, four of the country's top industry associations

said on Tuesday in a rare coordinated response to Washington's

curbs.

The associations cover some of China's largest industries,

including telecommunications, the digital economy, autos, and

semiconductors.

Their advice could impact U.S. chipmaking giants like Nvidia ( NVDA )

, AMD, and Intel ( INTC ) that, despite export

controls, have managed to keep selling their products in the

Chinese market.

The associations did not go into details on why U.S. chips

were unsafe or unreliable.

The Internet Society of China urged domestic companies to

think carefully before procuring U.S. chips and seek to expand

cooperation with chip firms from countries and regions other

than the United States, according to its official WeChat

account.

It also encouraged domestic firms to "proactively" use chips

produced by both domestic and foreign-owned enterprises in

China.

U.S. chip export controls have caused "substantial harm" to

the health and development of China's internet industry, it

added.

The warnings came after the United States on Monday launched

its third crackdown in three years on China's semiconductor

industry, curbing exports to 140 companies, including chip

equipment maker Naura Technology Group.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Pharmaceuticals to Industrial Products: India's wealthiest industries unveiled in latest Hurun rich list
Pharmaceuticals to Industrial Products: India's wealthiest industries unveiled in latest Hurun rich list
Oct 11, 2023
The 360 ONE Wealth Hurun India Rich List for 2023 has brought some fascinating insights into the wealth landscape of India's top individuals. With 133 individuals on the list, the Pharmaceuticals industry leads the pack, followed by Chemicals & Petrochemicals with 110 individuals and Industrial Products with 96 individuals. The star of this year's list appears to be the Industrial Products sector, with a remarkable 87% wealth creation, possibly attributed to post-pandemic demand and listing gains, along with the addition of 34 new faces. Here are the key highlights from the report:
Forbes India rich list 2023: With $92 bn net worth, Mukesh Ambani takes No. 1 spot, Savitri Jindal is wealthiest woman
Forbes India rich list 2023: With $92 bn net worth, Mukesh Ambani takes No. 1 spot, Savitri Jindal is wealthiest woman
Oct 12, 2023
Mukesh Ambani from Reliance Industries is back at number one, and Savitri Jindal, the wealthiest woman in India, has made it into the top five. Here's the top 10 list:
Uniqlo opens its first Mumbai store in Phoenix Marketcity Kurla
Uniqlo opens its first Mumbai store in Phoenix Marketcity Kurla
Oct 5, 2023
This is Uniqlo’s 11th store in India. This includes 7 stores in the Delhi NCR region, and one store each in Chandigarh, Lucknow, and Zirakpur, its first highway store.
GI Tag for Goan Cashew: Unpacking the key details — an explainer
GI Tag for Goan Cashew: Unpacking the key details — an explainer
Oct 16, 2023
In a significant development for Goa's cashew industry, the fragrant and flavorful Goan cashew kernel has been granted a Geographical Indication (GI) tag, underscoring its unique quality and characteristics linked to its geographic origin. This GI tag ensures that only cashew products originating from the defined region of Goa, registered as authorised users, can bear the label "Goan Cashew," safeguarding the reputation and identity of this beloved regional delicacy.
Copyright 2023-2026 - www.financetom.com All Rights Reserved