Beijing’s top trade negotiator met the head of Nvidia’s global business operations on Monday, ahead of an expected escalation of US restrictions on China’s semiconductor industry, which reportedly could come as soon as this week.
Wang Shouwen, the vice commerce minister who was a key member of China’s trade negotiation team during Donald Trump’s first term as US president, spoke with Nvidia’s Jay Puri, an executive vice-president of worldwide field operations, according to a statement published by the ministry.
During the meeting, Wang touted the “broader opportunities” a more open China could offer to foreign enterprises, adding that the Chinese commerce ministry is willing to strengthen communication, expand collaboration and iron out differences to put US-China economic and trade ties back on track.
Beijing welcomed Nvidia to deepen its ties in the country, and is willing to listen to companies’ requests to create a better business environment, according to the statement.
Puri told Wang that Nvidia views China as an important market, where it will continue to provide quality products and efficient services, while participating in the development of China’s digital economy.
The meeting comes amid an expectation that the outgoing administration of US President Joe Biden will soon impose another round of export restrictions on China. The new regulations could add up to 200 Chinese chip companies to a trade blacklist, Reuters reported on Friday, citing an email the US Chamber of Commerce sent to its members. Further US curbs on shipments of high-bandwidth memory chips to China are expected to be unveiled next month, the report said.
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