The appointments, which were revealed on Sunday, have raised concerns that Xi has surrounded himself with "yes men" as he leads China through what he called the "choppy waters" of the future, some of which are of his own making. The country is facing domestic economic troubles and worsening global tensions as Xi doubles down on threats to annex Taiwan.

Chip-making technology provider Lam Research on Wednesday warned of a $2 billion to $2.5 billion revenue hit in 2023 from US curbs on exports of high-end technology shipments to China.

The latest US salvo in the chip war against China will set back its domestic chipmakers by generations, while global suppliers of semiconductors and fab tools will incur billions of dollars in lost sales because of a giant dent in demand out of China.

Chinese chipmaker Yangtze Memory Technologies Corp has asked American employees in core tech positions to leave, as it rushes to comply with the new U.S export restrictions.

The iPhone manufacturing hub of Zhengzhou locked down one of its most-populated districts to tame a virus flareup, with creeping restrictions throughout China underscoring the constant threat of disruption companies face while the country sticks to Covid Zero.

ASML told its employees in the US to refrain from servicing customers in China following new regulations from the Biden administration, according to an internal email sent to staff.

US chip toolmaker KLA will cease offering some supplies and services from Wednesday to China-based customers including South Korea's SK Hynix in compliance with recent US regulations, a source familiar with the situation said on Tuesday.

The US Department of Commerce (DoC) added limits on exports of chips and related production tools to China, citing national security concerns. Following the announcement, US Senate Majority Leader Chuck Schumer noted he is pressing for further restrictions.

Tighter restrictions on US semiconductor and equipment sales are set to test China's artificial intelligence superpowers as Washington removes a key plank of next-generation technological development.

China is beset by severe economic problems. Growth has stalled, youth unemployment is at a record high, the housing market is collapsing, and companies are struggling with recurring supply chain headaches.

The US government is loosening restrictions on the sharing of technology with blacklisted firms, seeking to maintain America's lead in setting international standards as China closes the gap.

The Biden administration plans next month to broaden curbs on US shipments to China of semiconductors used for artificial intelligence and chipmaking tools, several people familiar with the matter said.

Chengdu has become the latest Chinese city to be locked down as Beijing continues to pursue its controversial "zero-Covid" policy.

China has placed millions of its citizens under renewed lockdown after fresh outbreaks of Covid-19 as the government persists in its hardline policy on containing the virus in the face of more evidence that it is suffocating the economy.

Beijing has announced tens of billions of dollars in stimulus measures in a bid to shore up confidence as China's economy is battered by a snowballing property sector downturn and President Xi Jinping's stifling zero-Covid policies.

China's Sichuan province has ordered all factories to shut down for six days to ease a power shortage in the region as a scorching heat wave sweeps across the country.

China's top anti-corruption watchdog has launched investigations against several executives linked to the country's largest chip investment fund, as Beijing steps up scrutiny of the sector in its race for technological self-sufficiency.

SK Hynix aims to select a US site for its advanced chip packaging plant and break ground there around the first quarter of next year, two people familiar with the matter said, helping the United States to compete as China pours money into the burgeoning sector.

Shipments to iPhone assembler Pegatron's factory in China were being held for scrutiny by Chinese customs officials a day after the company's senior executive met with US House speaker Nancy Pelosi in Taipei.

China has begun live fire military drills - its biggest-ever in the region - in the waters around Taiwan.

Washington had banned the sale of most gear that can fabricate chips of 10 nanometers or better to Chinese leader SMIC without a license. Now it has expanded that barrier to equipment that can make anything more advanced than 14 nm, Lam Research CEO Tim Archer told analysts.

Apple reported an almost 11% decline in profit after weathering supply constraints and shutdowns in China, although iPhone sales continued to grow, remaining resilient despite economic challenges.

China has signalled that it may miss its annual economic growth target, as Covid restrictions weigh on the world's second largest economy.

China has begun a series of investigations into key figures responsible for shaping chip policy and investment, raising questions about the impact on Beijing's blueprint for challenging US dominance of a US$550 billion industry.

A supply chain crisis triggered by the global pandemic deprived makers of PCs and smartphones to cars of computer chips needed to make their products. All that suddenly changed over three weeks from late May to June, as high inflation, China's latest COVID lockdown, and the war in Ukraine dampened consumer spending, especially on PCs and smartphones.

The US is pushing the Netherlands to ban ASML Holding from selling to China mainstream technology essential in making a large chunk of the world's chips, expanding its campaign to curb the country's rise, according to people familiar with the matter.

Tesla has cancelled three online recruitment events for China scheduled this month, the latest development after CEO Elon Musk threatened job cuts at the electric car maker, saying it was "overstaffed" in some areas.

Apple has told some of its contract manufacturers that it wants to boost production outside China, citing Beijing's strict anti-Covid policy among other reasons, people involved in the discussions said.

The chief executive of JSR, one of the world's largest suppliers of a material critical for semiconductor production, has said a lack of industry infrastructure will make it "very difficult" for China to develop cutting-edge chipmaking technology despite a push for self-sufficiency.

China's leading smartphone makers have told suppliers to scale back orders for the coming quarters by around 20% from previous plans following monthlong COVID lockdowns that have severely disrupted supply chains and battered consumer confidence, Nikkei Asia has learned.

Chinese tech stocks slumped as weak corporate earnings coupled with a dimming global growth outlook intensified selling.

AMD shrugged off the concerns about supply-chain issues and COVID-related Chinese manufacturing shutdowns, reporting record revenue of US$5.887 billion (up 71%) for the first quarter of 2022. And while AMD's rivals expressed uncertainty regarding ongoing chip shortages as a result of COVID-related manufacturing shutdowns in China, AMD appears less worried. The topic wasn't even mentioned in the company's press release.

Texas Instruments tumbled in late trading Tuesday after China's ongoing Covid-19 lockdowns crimped the company's sales and profit forecasts, with the restrictions idling factories and slowing shipments.

Toyota and Volkswagen are gradually bringing their China factories back on line after they were closed for weeks because of COVID lockdowns.

Shanghai reported a record number of symptomatic COVID-19 cases on Saturday and other areas across China tightened controls as the country kept up its "dynamic clearance" approach that aims to stamp out the highly transmissible Omicron variant.

Shipments of some Apple products, as well as Dell and Lenovo laptops are likely to face delays if China's COVID-19 lockdowns persist, analysts say, as curbs force assemblers to shut down and closed-loop arrangements get harder to maintain.

Chinese automakers may have to halt production in May if shutdowns persist in the Shanghai area, said the chief executive officer of electric-vehicle firm Xpeng, a bleak assessment of supply-chain disruptions in the wake of Covid-19 lockdowns.

The manufacturing hub of Guangzhou closed itself to most arrivals Monday as China battles a major COVID-19 surge in its big eastern cities.

China's President Xi Jinping has praised his country's handling of the Covid pandemic, even as Shanghai reported record case numbers.

Russia is turning to microchip manufactures in China to circumvent western sanctions which have boosted demand for bank cards linked to the Mir payment system, an executive with the domestic payment system said.