China determined to advance its technology despite US-led restrictions, Xi Jinping tells Dutch Prime Minister

What just happened? The US-led campaign to restrict China's access to advanced technologies will not deter its scientific and technological progress, according to President Xi Jinping, who made the statement during his meeting with Dutch Prime Minister Mark Rutte. The Netherlands restricted exports of ASML's advanced chipmaking equipment to China last year, a move prompted by the US. Xi met Rutte on Wednesday for discussions relating to areas that included the semiconductor industry. The president added that China will "Continue to pursue a win-win approach." At the start of the year, ASML announced that a license for the shipment of NXT:2050i and NXT:2100i lithography systems had been partially revoked by the Dutch government, impacting a small number of customers in China. China was ASML's second-largest customer in 2023, accounting for 29% of its revenue as Chinese companies rushed to buy its chipmaking equipment before the new licensing rules came into effect, writes Associated Press. Rutte downplayed the tension between China and the Netherlands, claiming the restrictions are never aimed at one country specifically and the Dutch government always tries to ensure the impact is limited. In addition to chipmaking equipment, the US has restricted the export of advanced AI products from the likes of Nvidia and AMD to China due to their potential use in military applications.