(Yicai Global) July 19 -- China's semiconductor industry will continue to innovate and work together with global partners despite the multi-year trade restraints posed by the United States government that harm global development, according to an industry association.

The China Semiconductor Industry Association welcomes open cooperation, and will work with all the countries and regions willing to collaborate to safeguard the globalization of the chip industry, it said in a statement today. The CSIA will assist the government and authorities to facilitate international cooperation, it added.

The alliance mentioned US trade restrictions. Leaders of major US chip companies have tried to persuade the government to stop expanding its trade hurdles to promote international cooperation, the CSIA said, citing news reports.

Over the past decades, the US semiconductor industry was ahead in specialization based on regional and geographical attributes, which shaped the global industry, the alliance said. However, in the past few years, the US government has taken a series of measures restricting trade, and disrupting the stability of the global supply chain, it added.

China's mainland accounts for more than four-fifths of the global semiconductor market, supporting the supply of electronic and information technology products while contributing to the well-being of people around the world, including the least developed countries, per the statement.

Any damage to the current global supply chain could create "inevitable and irreparable harm" to the global economy, per the CSIA. Such harm could fragment the global chip supply chain and risk the integrity and prosperity of the global economy.

The CSIA warns that as a consequence of the restrictions, the interests of global consumers will be harmed, the competitiveness of the US semiconductor industry might be jeopardized, and globalization could be threatened. These generate shared concerns around the world, including the US, it added.

Editor: Emmi Laine