China cautions U.S. against new semiconductor export restrictions amid Nvidia controversy

China's foreign ministry said on Friday that it opposes any further export-control measures on semiconductors, arguing they would destabilise global industrial and supply chains. Spokesperson Mao Ning told a regular press briefing that China and the United States should cooperate to uphold the consensus reached by their leaders and preserve stable economic and trade relations.

The remarks came as U.S. lawmakers consider tightening limits on chip equipment shipments to China following the resignation of Nvidia CEO Jensen Huang, who disclosed an affair with former senior executive Alice Huang of Singapore-based data-center company Megaspeed.

U.S. Treasury Secretary Scott Bessent told CNBC that the Treasury, Defense, State and U.S. Trade Representative departments had supported adding Megaspeed to the Entity List for months, but that the Commerce Department's Bureau of Industry and Security controls the decision.

Commerce Secretary Howard Lutnick is scheduled to testify before the Senate Banking Committee on Dec. 10, according to a U.S. official. A New York Times report said that President Trump had been briefed a year earlier on intelligence suggesting Alice Huang was linked to China's Ministry of State Security, but no action was taken at the time. House Speaker Mike Johnson said Congress is moving toward stricter chip export controls.