TMTPOST -- Nvidia Corporation CEO Jensen Huang told China’s economic czar that the artificial intelligence (AI) chipmaking giant will continue exploring Chinese market on Thursday, days after the Trump administration’s new export controls on China started hitting the company.

Credit：Xinhua News Agency

In meeting with Chinese Vice Premier He Lifeng in Beijing, Huang expressed optimism about the economic prospects of China and the willingness to continue to deepen presence in the Chinese market and play an active role in promoting U.S.-China economic and trade cooperation, the state news agency Xinhua reported.

He, the lead person for China-US economic and trade affairs, said China welcomes more U.S.-funded enterprises, including Nvidia, to deeply cultivate the Chinese market and fully demonstrate their industrial advantages and capabilities in China, thereby gaining the upper hand in global competition.

The Chinese market has huge investment and consumption potential, and the industrial transformation and upgrading are accelerating, said He. He noted the market is the best application scenario for the new round of technological revolution and industrial transformation, and has always been a fertile ground for foreign-funded enterprises to invest and trade.

Huang earlier Thursday met other Chinese officials, signaling Nvidia’s enthusiasm about expansion in China would not be dampened by U.S. President Donald Trump’s “America-First” policy.

During the meeting with Ren Hongbin, chairman of the China Council for the Promotion of International Trade, Huang emphasized that China is a very important market for Nvidia and expressed the company's willingness to continue cooperation with China, according to a report by China Central Television (CCTV) on Thursday.

Hunag said Nvidia will serve the Chinese market unswervingly, and highlighted China's strengths in the consumer market, booming industrial ecology, and software prowess, per CCTV report.

According to Huang, the past thirty years has seen Nvidia’s large market interactions with Chinese companies and working and serving them, which made both parties better. “We’re going to continue to make significant effort to optimize our products that are compliant with the regulations and continue to serve the Chinese market,” said the founder and chief executive.

Huang acknowledged the increased restriction imposed by the U.S. government has impacted Nvidia “significantly” as China is a very important market for the chipmaker. He added: “We have many employees here, the technical excellence of China's industry is quite impressive.”

Huang made the remarks in his surprise visit to China, right after Nvidia stocks plunged on fresh export control on AI chips disclosed.

Nvidia said in a filling that it was informed by the U.S. government on April 9, last Wednesday,that the government requires a license for export to China, including its two special administrative regions Hong Kong and Macau, of the company’s “H20 integrated circuits and any other circuits achieving the H20's memory bandwidth, interconnect bandwidth, or combination thereof.” 

The U.S. government indicated the license requirement addresses the risk that the covered products may be used in, or diverted to, a supercomputer in China, according to the filling. It added that the government on Monday informed Nvidia the licence requirement will be in effect for the indefinite future.

Nvidia in the filling thus estimated its first quarter of fiscal year 2026 ending on April 27 will see about $5.5 billion of charges regarding H20 products associated with H20 products for inventory, purchase commitments, and related reserves.

H20, which is modified to have lower performance than other Nvidia chips, is the most advanced AI chips that Nvidia can export to China under the current export rules. Many in the semiconductor industry had feared the H20 chip would be one of new targets of the U.S. government because it is one of the chips that Chinese AI upstart DeepSeek used to train its popular reasoning AI model R1.

Huang last week reported to successfully make the White House change its mind and put its plan to tighten restrictions on H20 chips on hold in a dinner at President Donald Trump’s Mar-a-Lago resort. The change of course from the White House came after Nvidia promised the Trump administration new U.S. investments in AI data centers, NPR reported.