By Gabby Chen
(JW Insights) Mar 30 -- Commerce Minister Wang Wentao met Dutch chip-making equipment maker ASML's CEO Peter Wennink on March 28. They exchanged views on ASML's development in China and other issues, reported Chinese press. No place of their meeting was mentioned in any reports so far.
During the meeting, Wang emphasized that China will unswervingly promote high-level opening-up and is willing to create a good business environment and provide efficient services for multinational companies, which includes ASML, to develop in the country, according to the Ministry of Commerce (MOFCOM).
Wang also said he hopes that ASML will strengthen its confidence in trade and investment cooperation with China, make contributions to China-Netherlands economic and trade cooperation, and jointly safeguard the stability of the global industrial and supply chains in the semiconductor sector, China Daily reported.
However, ASML's suppliers are considering building plants in Southeast Asia instead of China, according to a report by Reuters on March 10.
Officials from a dozen tech companies are set to visit Vietnam, Malaysia and Singapore, revealed a note from the Brabant Development Agency, a Dutch public body involved in organizing the trip.
The possible investments are part of a wider, long-term strategy to reduce exposure to China, two people familiar with the plan told Reuters.
A major backdrop of the meeting China’s Minister with ASML’s CEO is that the Dutch government announced on March 8 that it will impose new export controls on semiconductor technology to China before the summer. It said the move was taken to safeguard national security, joining the US effort to curb chip exports to China, according to a previous JW Insights report.
The export controls focus on advanced chip manufacturing technology, including the most advanced deposition and immersion lithography tools.
Therefore, ASML will need to apply for export licenses for the shipment of the most advanced immersion DUV systems due to these upcoming regulations, said ASML.
