Chinese chip stocks fell Monday after the U.S. announced new export controls aimed at limiting Beijing’s ability to produce advanced military systems.
Sweeping new U.S. rules mean companies must apply for a license if they want to sell certain advanced computing semiconductors or related manufacturing equipment to China, the U.S. announced Friday.
"The U.S. has been abusing export control measures to wantonly block and hobble Chinese enterprises," Chinese Ministry of Foreign Affairs Spokesperson said.
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