China’s chip industry will be “reborn” as a result of U.S. sanctions, a top boss at Huawei said Friday, as the Chinese telecommunications giant claimed a breakthrough in semiconductor design technology. Eric Xu, rotating chairman at Huawei, issued fighting words against Washington’s tech export rest...

boost, rather than hamper China’s domestic semiconductor industry. “I believe China’s semiconductor industry will get reborn under such sanctions and realize a very strong and self-reliant industry,” Xu said. Experts previously told CNBC that the latest round of U.S. restrictions are likely to hurt ...