In a move aimed at slowing down Beijing's technological and military progress, Washington this month passed a large and comprehensive set of export control laws, including restrictions on sales of some electronic chips and their advanced equipment.

Over the past week , China's Ministry of industry and information technology has held a series of emergency meetings with leading semiconductor companies to assess the effects of recent U.S. restrictions on electronic chips.

The ministry summoned the directors of large companies specializing in computer technology for closed meetings.

Experts predict that the impact of the new laws will be broad and significant, and may slow down China's efforts to develop its own chip industry and hinder commercial and government research that includes military weapons, artificial intelligence, data centers and many other areas powered by supercomputers and high-end chips.

According to the Bloomberg report, the participants discussed the risks of the decision for their industry.

China aspires to decouple its economy from American technology. Chinese President Xi Jinping, as the Communist Party Congress began, called on his country to win the technological challenge. He pointed to a comprehensive reform of Beijing's approach to the technological industry, monitoring more spending on the state-led program to counter US pressure.