According to official information, He Lifeng highlighted the enormous investment and consumption potential of the Chinese market, as well as the accelerated progress in industrial transformation and modernization.
He emphasized that the Asian giant represents the ideal setting for the implementation of the new technological revolution and industrial change.
“China has always been fertile ground for investment and trade by foreign companies,” he stated.
The vice premier welcomed US companies, including Nvidia, to deepen their commitment to the Chinese market.
He invited these companies to take advantage of their industrial advantages and capabilities in China, which could allow them to gain a competitive advantage globally.
According to the Xinhua news agency, Jensen Huang expressed optimism about China’s economic outlook.
He asserted that NVIDIA will continue to deepen its presence in the Chinese market and is willing to play a positive role in promoting US-China economic and trade cooperation.
According to US reports, President Donald Trump’s administration banned Nvidia from selling its H20 chip in China, due to Washington’s concerns that “the products could be used or diverted to a supercomputer in China,” the company added in a statement.
As a result, Nvidia’s shares fell about six percent when markets opened in New York, causing a plunge in semiconductor companies in several countries.
The move is part of an escalating US trade war targeting China and specifically seeking to limit the development of artificial intelligence in the Asian country.
In recent days, there have been some contradictions within the US administration regarding whether semiconductors and other key computer and technology-related products from China were exempt from the high tariffs.
Trump himself said there was no exemption; the issue is that semiconductors would be placed on a different list.
Currently, the United States applies additional tariffs of 125 percent on all goods from China and is threatening to raise the figure to 245 percent.
Beijing announced additional tariffs of 125 percent in response, but added that it would not continue Washington’s “tariff game” and would ignore US tariff increases from now on.
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