"If restrictions targeting China's high-technology sector continue then countermeasures will escalate," added Wei, vice commerce minister 2003-2008 and now vice chairman of China Center for International Economic Exchanges, a state-backed think tank.Īnnounced on the eve of U.S.
On Wednesday, former Vice Commerce Minister Wei Jianguo told the China Daily newspaper that countries should brace for more should they continue to pressure China, describing the controls as a "well-thought-out heavy punch" and "just a start". 1 on exports of some gallium and germanium products, also used in electric vehicles (EVs) and fibre optic cables, has sent companies scrambling to secure supplies and bumped up prices. Gallium is used in radar and radio communication devices, satellites and LEDs.Ĭhina's abrupt announcement of controls from Aug. Germanium is used in high-speed computer chips, plastics and in military applications such as night-vision devices, as well as satellite imagery sensors. Shares in some Chinese metals companies rallied for a second session as investors bet that higher prices for gallium and germanium, which Beijing's export restrictions target, could boost revenues. Analysts say messaging by China clearly timedīEIJING/SHANGHAI, July 5 (Reuters) - China's export controls on metals used in semiconductors are "just a start", an influential Chinese trade policy adviser said on Wednesday, as Beijing ramps up a tech fight with Washington days before a visit from U.S.
Treasury Secretary due to visit Beijing from Thursday Policy adviser says countries should brace for more measures.
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