The number of new company registrations in the semiconductor industry from January to May tripled in China, bolstered by generous subsidies, as Washington counters with its own policies.
US-China tech war: Biden cuts two Huawei financing arms off from US investor access as fight moves to capital markets
Analysts say move demonstrates Washington’s determination to use financial weapons against Chinese companies it deems a national security threat
Huawei’s offshore bonds are held by many big financial firms, including large asset management funds
US subpoenas Chinese communications firms in probe of national security risks
Beijing has ‘engaged in conduct that blunts our technological edge and threatens our alliances’, says Commerce Secretary Gina Raimondo
The subpoenas were served on companies that provide information and communications technology services in the United States