(Bloomberg) The US-led restrictions over advanced chipmaking equipment for Chinese firms will ultimately deter China’s efforts to develop an indigenous semiconductor industry, according to a senior American official responsible for enforcing export controls. Most Read from BloombergIsrael Latest: Oil Declines as Hostage Talks Delay Gaza InvasionCar Owners Fall Behind on Payments at Highest Rate on RecordUS Push for Release of Hostages Delays Israeli Ground War, But Won’t Stop ItSaudi Arabia M
The US State Department statement identified the companies as General Technology Limited, Beijing Luo Luo Technology Development, and Changzhou Utek Composite Company.
China s recent decision to restrict graphite exports underscores its position as a major producer of the highly-valued mineral. This move highlights its pivotal role in the supply chain for essential minerals needed for EV production, especially at a time of skyrocketing demand for EV batteries, with enormous implications for the global electric vehicle industry.