China's tech industry hoping for better treatment from Biden: Analysts

China's tech companies might be relieved that Joe Biden would take over the US presidency and possibly create a more constructive relationship, according to said Fang Xingdong, director of the Communication University of Zhejiang's Consortium of Internet and Society.

While Fang expects the US to re-advocate openness and innovation and re-respect fair competition with China, competition in the high-tech field would not end.

Jefferies analysts said that a blanket US ban on China’s semiconductor industry would be less likely under Biden.

According to several executives, the Trump administration had exposed how vulnerable the Chinese technology industry was, prompting it to prioritize shoring up.

China's policies are now directed towards reducing its reliance on overseas markets and technology, such as by spending billions of dollars to boost its domestic chip industry.

The US sanctions on Chinese tech giants Huawei Technologies, ByteDance, and Tencent Holdings for being national security risks resulted in supply chains being choked or global expansion efforts slowed down.

Many other Chinese firms have also been cut off from US suppliers by a trade blacklist.

ByteDance is now in the process of creating a new company with Walmart Inc and Oracle Corp to oversee TikTok's US operations to avoid being banned in the US.

Trade curbs have choked off Huawei's access to commercially available chips that it uses to manufacture its high-end phones.