In a meeting with Micron’s president Sanjay Mehrotra, China’s Commerce Minister Wang Wentao said China would welcome a deeper presence from the US company within the country.
A brief statement on China’s Commerce Ministry website confirmed that several investment and product guarantees would be instated for foreign businesses, perhaps signalling a thawing of US-China relations.
Speaking on this meeting, Wentao stated that China would “welcome Micron Technology to continue to take root in the Chinese market and achieve better development under the premise of complying with Chinese laws and regulations.”
According to research company GlobalData, both China and the US are currently dominating the publications of AI related patents between 2020 and 2023. South Korea’s Samsung was the only non-Chinese or American entity to make the list.
“China aims to be a world leader in AI by 2030,” the research company said in its 2023 Thematic Intelligence Artificial Intelligence report, “and it is investing heavily to make that happen.”
“China’s strengths in AI are mainly in applications that rely on vast troves of data, such as biometrics, to power algorithims but the country remains weak in other AI areas like semiconductors,” it added.
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The US has also been a longtime leader in technology and, like China, has set its sights upon AI as integral to a technological revolution. This has long impacted both its industrial and foreign policies.
Despite the apparent thawing on China’s side, several US lawmakers have written to the Biden administration calling for tighter controls on China’s use of RISC-V chips to create and design its own AI chips.
Tensions between the countries may continue to be frosty.
Our signals coverage is powered by GlobalData’s Thematic Engine, which tags millions of data items across six alternative datasets — patents, jobs, deals, company filings, social media mentions and news — to themes, sectors and companies. These signals enhance our predictive capabilities, helping us to identify the most disruptive threats across each of the sectors we cover and the companies best placed to succeed.