China objected strongly to the new chip restrictions, criticising the US move as economic coercion that seriously threatened global supply chains.

The United States on Monday launched its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies, including chip equipment maker Naura Technology Group, among other moves.

The US has introduced new export controls in an effort to curtail China’s ability to create an advanced semiconductor industry and to slow its development of artificial intelligence with military applications.

The U.S. will launch its third crackdown in three years on China's semiconductor industry on Monday, restricting exports to 140 companies including chip equipment maker Naura Technology Group, among other moves,

The United States announced new export restrictions Monday targeting China's ability to make advanced semiconductors, drawing swift condemnation from Beijing as competition deepens between the world's two biggest economies.