Xin Lang Cai Jing·2025-12-08 15:25Core Viewpoint - The Chinese government, through spokesperson Lin Jian, has made it clear that it will not accept downgraded technology products from the U.S. and will not endorse the restrictive rules imposed by the U.S. [1] Group 1: U.S.-China Technology Trade Dynamics - AMD's CEO Lisa Su announced that the company received partial export licenses for MI308 chips to China and is willing to pay 15% of sales revenue to the U.S. government, which is perceived as a political maneuver rather than a genuine business transaction [1] - The MI308 chip is a downgraded version of AMD's MI300X, designed specifically for the Chinese market, sacrificing performance to obtain U.S. export approval [3] - The Chinese government has shifted its stance, indicating it will no longer accept "second-rate chips" and will not act as a "recycling station" for technology [3][4] Group 2: Market Reactions and Implications - NVIDIA's CEO Jensen Huang expressed uncertainty about whether China would accept stronger chips like the H200, indicating a clear understanding of the changing market dynamics [4] - The U.S. strategy of restricting high-end chip exports while attempting to maintain sales through "special supply" and taxation is seen as contradictory and ultimately detrimental to U.S. companies [4][5] - China's domestic semiconductor industry has made significant advancements, with local AI accelerators now competing with H20-level performance, indicating a shift in market power [5] Group 3: Future Outlook - If China successfully replaces U.S. chips in performance and ecosystem, the issue of export licenses will become irrelevant, raising questions about the future participation of U.S. companies in the Chinese market [5][6] - The ongoing chip competition reflects a broader trend where the balance of power in technology markets is shifting, with China moving towards self-sufficiency and the U.S. potentially losing its market share [6]