SHANGHAI China plans to splurge to help its chip sector overcome U.S. export curbs, but money can only do so much unless Chinese firms can break from a cycle that hinders innovation and traps them at the low end of the value chain, industry players said.
The administration also blacklisted a company that The Washington Post recently reported facilitated sales of U.S. technology to military institutes involved in China's hypersonics and missile programs.
The Biden administration doubled down Thursday on its high-tech containment of China, expanding a ban on commercial exports of advanced U.S. technology that it said aids Beijing’s military and hypersonics programs and enables human rights violations.