China’s economic czar He Lifeng made the comments in a meeting with Janet Yellen, which saw the US treasury secretary double down on chip sanctions, while also urging 'direct' communication

The announcement came a day after the group was fined $984 million in what is likely to be the end of a years-long regulatory crackdown on the once storied Chinese company

About a dozen Chinese firms, including Tencent Music Entertainment Group, Didi Global and NetEase, are likely to be inspected in a fresh round of routine checks

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

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

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

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

Fresh export control rules being considered by the US will prohibit Nvidia from selling to China even those chips it specifically designed to meet earlier limits

Prosecutors say 65-year-old Choi Jinseog, once hailed as a star in Korea's chip industry, tapped Samsung’s supplier network to steal information on factory layouts, cleanroom management

Biden says Blinken did a "hell of a job" in China, after Secretary of State said US does not support independence for Taiwan, and pressed China to remain 'vigilant' of firms giving arms to Russia

US officials have played down the prospect of a major breakthrough in China-US ties, but say Blinken's primary goal is to establish durable communication channels with Beijing

Xi has previously said China needs to seize opportunities to use AI to drive economic development, but has also cautioned about its risks