iStockChina’s Commerce Minister Wang Wentao sought to assure the head of ASML Holding NV that Beijing remains a reliable partner even as the Dutch government imposes new restrictions on exports of advanced semiconductor technology.
Wang told ASML Chief Executive Officer Peter Wennink at a meeting Tuesday that he “hopes ASML will maintain its confidence in investing and collaborating with China, and make significant contributions to China/Netherlands economic cooperation,” according to a readout from the Chinese government.
The conciliatory tone comes after the Netherlands announced bans on several advanced ASML lithography machines used to make semiconductors, amid an escalating battle over the world’s chip supply. US President Joe Biden has pushed for allies to stop selling equipment that could help China develop its chip-making capacity.
Chinese officials this week have hosted foreign corporate chiefs including Apple Inc. CEO Tim Cook and Samsung Electronics Co. Chairman Jay Y. Lee at the China Development Forum, seeking to assure them that Beijing remains committed to international cooperation despite its strained relationship with Washington.
ASML has a near monopoly on the most advanced chip equipment in the world. It was already barred from selling its most advanced machines to China and now faces new restrictions on other sophisticated equipment.
Wang told ASML Chief Executive Officer Peter Wennink at a meeting Tuesday that he “hopes ASML will maintain its confidence in investing and collaborating with China, and make significant contributions to China/Netherlands economic cooperation,” according to a readout from the Chinese government.
The conciliatory tone comes after the Netherlands announced bans on several advanced ASML lithography machines used to make semiconductors, amid an escalating battle over the world’s chip supply. US President Joe Biden has pushed for allies to stop selling equipment that could help China develop its chip-making capacity.
Chinese officials this week have hosted foreign corporate chiefs including Apple Inc. CEO Tim Cook and Samsung Electronics Co. Chairman Jay Y. Lee at the China Development Forum, seeking to assure them that Beijing remains committed to international cooperation despite its strained relationship with Washington.
ASML has a near monopoly on the most advanced chip equipment in the world. It was already barred from selling its most advanced machines to China and now faces new restrictions on other sophisticated equipment.
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