Huawei is optimistic about China's semiconductor sector.

The US government's tightening tech-export restrictions on China could foster the development of the nation's domestic chip industry, Huawei's rotating chairman Eric Xu stated during a press conference on Friday. He confirmed reports that Huawei and other domestic firms have jointly created the electronic chip-design tools needed to make semiconductors sized at 14 nanometers and above, which will be verified this year. Tensions between the US and China, the world's two largest economies, have been on the rise as they compete for domination in key technology areas, including semiconductors. Washington has been urging its allies to curb tech exports to China as well, with Europe's biggest producer of advanced chipmaking technology, the Netherlands, having joined the United States in its escalating standoff with Beijing. On Friday, Japan announced plans to restrict semiconductor equipment exports, while not naming China, aligning with the curbs.