Future Publishing | Future Publishing | Getty ImagesBEIJING — Chinese chip stocks fell Monday after the U.S. announced new export controls aimed at limiting Beijing's ability to produce advanced military systems.
The rules, effective this month, expand on prior U.S. attempts to crimp Chinese companies' access to key tech.
Chinese chips stocks tumbleChina's largest chipmaker, Semiconductor Manufacturing International Corporation, traded 3% lower Monday afternoon in Hong Kong, amid a broader market sell-off.
"It will not only harm Chinese companies' legitimate rights and interests, but also hurt the interests of U.S.
The U.S. government previously put Chinese companies Huawei and SMIC on a blacklist that requires suppliers to obtain a license before selling to them.