China Criticizes Dutch Intervention in Chinese-Owned Chip Firm
China's Foreign Ministry this week objected to the Netherlands' takeover of Chinese-owned semiconductor firm Nexperia, saying China "opposes overstretching the concept of national security and discriminatory moves against companies in certain countries." According to an unofficial translation, a ministry spokesperson said during an Oct. 15 press conference that "the relevant country should abide by market principles and refrain from politicizing trade issues. China is firmly resolved in safeguarding its legitimate and lawful rights and interests."
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The Dutch government seized control of the chip company after the U.S. pressured the country to intervene, including by warning that Nexperia was set to be captured by Entity List restrictions under the Bureau of Industry and Security’s new 50% rule (see 2510140015).