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Investing.com -- China’s Commerce Ministry on Wednesday welcomed the Dutch government’s decision to suspend its seizure of Chinese-owned chipmaker Nexperia, describing it as a "first step in the right direction."
The ministry stated that while the suspension was positive, it fell short of China’s hope for a complete withdrawal of the administrative order that led to the Dutch intervention. Beijing has blamed this intervention for causing disruption in global semiconductor supply chains.
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According to the ministry, both sides have agreed to cancel the administrative intervention and support companies in resolving internal disputes through consultations.
The Chinese government expressed concern that "the erroneous ruling by the Enterprise Chamber, made under the direction of the Dutch Ministry of Economic Affairs, to strip Wingtech Technology of control over Nexperia remains a key obstacle to resolving the issue."
China’s Commerce Ministry said it hopes the Dutch side continues to demonstrate willingness for cooperation and bring solutions to the table to resolve the outstanding issues.
Nexperia is a Netherlands-based semiconductor manufacturer owned by China’s Wingtech Technology.