Firms across the globe are scrambling to assess the impact on supply chains from restrictions China announced this week, with a focus on finding alternatives for key components

Chinese analysts say Yellen's speech in April, which ranked national security interests as the top plank of America's bilateral economic policy, did not inspire optimism for the visit

Semiconductor firm Micron will begin work on a government-backed $2.75 billion chip assembly and test facility in Gujarat next month

On Tuesday, the EU voiced concerns over China's planned curbs on exports of some gallium and germanium products and expressed doubts that the move was related to national security

Former vice commerce minister says China's countermeasures will escalate if tougher tech restrictions are imposed. Analysts say they could extend to rare earth elements.

One German business chief said it must “end unilateral dependencies” after Beijing moved to restrict exports of rare metals key to making memory chips

The restriction is aimed at closing a crucial loophole in the export controls the US implemented in October that allowed Chinese AI firms to access high-end chips through the cloud

Insiders and analysts say Pan Gongsheng is known as a risk averse financial technocrat, who played a key role in crackdowns on perceived threats over the past decade

Beijing has ramped up trade rivalry with the US by announcing controls on gallium and germanium - two minor metals widely used in chips, EVs and high-tech products - and it could get worse

The move comes as Japan works to revitalise its chip industry, and the European Union looks to reduce its dependence on China-dominated supply chains

Yellen is expected to discuss cooperation on climate change and global debt distress, plus concerns about China's anti-espionage law in talks with senior finance officials in Beijing this week

The rules, set to come into effect on September 1, will require Dutch companies that make advanced chipmaking equipment to seek a licence before they can export it