- April 13, 2023
- Posted by: admin
- Category: Daily News
- China remains a key market for American semiconductor giant Intel Corp, CEO Patrick Gelsinger said, despite the Biden administration’s growing efforts to restrict the export of advanced chip technologies to Chinese entities.
- “Intel’s presence in China is very important, because the country is one of the world’s largest markets, and also one of Intel’s most important markets,” Gelsinger said at a sustainability summit hosted by the company in Beijing on 12 Apr.
- Gelsinger told the audience that Intel, which opened its first Beijing office in 1986, has long relied on local partners when it comes to research and development, standards setting, and manufacturing of products.
- The speech comes as US chip companies are trying to balance business interests in China with tightening export controls on advanced semiconductors.
- The Chips and Science Act, which was enacted into law in Jun 22, earmarks nearly USD53bn in subsidies for domestic semiconductor manufacturing, while barring recipients from building advanced chip-making capacity in China.
- Gelsinger’s trip to China, the first since he took the helm as CEO in 2021, came weeks after a group of international C-suite executives, including Apple CEO Tim Cook, met top Chinese officials in the capital city, in a show of confidence in the Chinese market amid geopolitical uncertainties.