Technology
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This is the best summary I could come up with:
SINGAPORE/BEIJING, Oct 19 (Reuters) - As the U.S. tightens its restrictions on China's semiconductor industry, Chinese manufacturers of tools used to make chips are benefiting, with orders from the country's foundries accelerating in recent months.
It marks a turning point for the industry, reflecting acceptance that U.S. restrictions on technology imports are unlikely to ease and could get worse and that self-reliance - as urged by Chinese President Xi Jinping - is the way forward.
The Biden administration on Tuesday expanded measures aimed at China's chip industry that seek to stop Beijing from receiving cutting-edge U.S. technologies to strengthen its military.
China's foreign ministry said on Wednesday that it has lodged a stern rebuke over the latest chip restrictions, saying that they violated the principles of the market economy and fair competition.
Chinese companies have been stockpiling foreign-made chip equipment from Japan and the Netherlands, but those avenues are also set to close with those countries expected to join the U.S. in enacting restrictions in coming months.
Analysts said that Chinese manufacturers were getting better at producing equipment in areas such as etching and cleansing, where they compete globally with the likes of U.S. firms Applied Materials Inc (AMAT.O) and Lam Research Corp (LRCX.O).
The original article contains 798 words, the summary contains 204 words. Saved 74%. I'm a bot and I'm open source!