Huawei Photo:IC

China urges the US to immediately stop its wrongdoing and create the conditions for business involvement in normal trade and cooperation, China's Ministry of Commerce (MOFCOM) said on Sunday, hitting back against the latest technology tightening and coercion by the US.

China has taken note of the US' new export controls targeting Huawei, which China strongly opposes, the MOFCOM said in a statement on its website. 

The country will take all necessary measures to resolutely safeguard the legitimate rights of Chinese firms, read the statement. 

In a fresh China containment move, the Trump administration unveiled a new rule on Friday to restrict chip supplies to Chinese telecom giant Huawei. 

The US employs state power, uses so-called national security as an excuse to abuse export controls and other measures, and continues to suppress and contain specific companies from other countries. 

Such practices violate market principles and the conditions for fair competition, show the US' disregard of the basic rules of international trade, and pose a serious threat to the security of global supply chains, the ministry said in the Sunday statement.

The US' move undermines the interests of Chinese firms, US businesses and firms from other countries.

Countermeasures are being considered by China, including putting related US companies on China's "unreliable entity list," and imposing restrictions on or launching investigations into US companies such as Qualcomm, Cisco and Apple based on Chinese laws and regulations, the Global Times reported on Friday, citing a source close to the Chinese government.

Chipmakers such as Qualcomm and TSMC took a battering from the escalating tightening in US markets on Friday.

Global Times