"The Chinese government calls the move discriminatory. The country warns that the Netherlands should not underestimate China's determination. This is reported by De Telegraaf and the FD. The Dutch cabinet took partial control of Nexperia out of concern for national and European economic security. According to insiders, there are signs of mismanagement and conflicts of interest by Zhang Xuezheng, the Chinese CEO of Wingtech Technology, the parent company. This could jeopardize the supply of essential chips."
"China responded almost immediately by imposing an export ban on Nexperia. Letters to customers show that the measure has been in force since October 4 and applies to products from the factory in the southern province of Guangdong. The Chinese authorities classify the chips as so-called dual-use products, which can be used for both civilian and military purposes. The export ban is causing great concern among European customers, especially in the automotive and electronics sectors."
The Dutch cabinet assumed partial control of Nexperia citing national and European economic security concerns after reports of mismanagement and conflicts of interest linked to Zhang Xuezheng, CEO of parent company Wingtech Technology. The Enterprise Chamber suspended Zhang, and outgoing Minister Vincent Karremans used the Goods Availability Act to temporarily influence company decisions, marking the law's first application. China called the measure discriminatory and immediately imposed an export ban on products from Nexperia's Guangdong factory, classifying the chips as dual-use. European automotive and electronics customers fear supply disruptions and lack immediate alternatives for some parts.
Read at Techzine Global
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