Biden officially signs "chip bill"

According to the "Capitol Hill" and other media reports, on the evening of August 9th, Beijing time, US President Biden officially signed the "Chip and Science Act of 2022" (hereinafter referred to as the "Chip Act"), making it official.

Screenshots of related reports (source: "Capitol Hill")

It is understood that the bill has undergone several revisions and adjustments in more than a year, and passed the US Senate and House of Representatives at the end of July. The bill totals $280 billion, including $52 billion to support computer chip-making companies, among other things.

According to CCTV news, it is worth noting that the bill not only tries to attract semiconductor companies to set up factories in the United States through investment subsidies, but also intends to prevent semiconductor companies from increasing production in China by restricting the qualifications for subsidies.

U.S. President Biden Data Map (Source: "Capitol Hill")

After the US Senate passed the "Chip Act" with 64 votes in favor and 33 votes against, Chinese Foreign Ministry spokesman Zhao Lijian said at a regular press conference on July 28 that the so-called "Chip and Science Act" claimed to be aimed at improving The competitiveness of the US technology and chip industry, but the bill contains some provisions restricting the normal scientific and technological cooperation between China and the United States. China expresses its firm opposition to this.

Zhao Lijian said that how the U.S. develops itself is the U.S.’s own business, but it should not set up obstacles for normal Sino-U.S. scientific, technological and cultural exchanges and cooperation, let alone deprive and damage China’s legitimate development rights and interests. Sino-US scientific and technological cooperation is conducive to the common interests of both sides and the common progress of mankind, and "decoupling" of restrictions will only harm others. At the same time, China insists on putting the development of the country and the nation on the basis of its own strength, and any restrictions and suppression cannot stop the pace of China's scientific and technological development and industrial progress.