A partner at a Chinese tech investment fund views the U.S. chip export ban as positive news.

• Chloe Wang, a partner and vice-president at the Guangzhou-based Yang Cheng Fund, expressed her satisfaction with the news that the U.S. will prohibit the export of specific AI chip types to China.
• The U.S. Department of Commerce has announced restrictions on exports of Nvidia's A800 and H800 chips, effective immediately.
• The Yang Cheng Fund invests in semiconductor companies that produce chips for AI training, autonomous vehicles, and other sectors.

The U.S. government's ban on exporting certain advanced chip types to China has been welcomed by a partner at a Chinese semiconductor investment fund as "great news" that may encourage the development of a domestic ecosystem.

Chloe Wang, a partner and vice-president at the Guangzhou-headquartered Yang Cheng Fund, stated at the Nansha district of Guangzhou, China, on Wednesday that she was not surprised about the U.S. continuing to ban the H100 and 800 exports to China, as she received the news this morning.

The U.S. Department of Commerce has announced that it will prevent the sale of some advanced artificial intelligence (AI) chips to China, due to concerns that they could be used for military development purposes. This will restrict the export of chipmaker's A800 and H800 chips, officials said.

The H100 chip, used by AI companies in the U.S., was prohibited from being sold due to earlier U.S. government restrictions.

Wang stated that the fund invests in semiconductor companies, specifically those involved in AI training and autonomous vehicles. One AI chip company, Yang Cheng, is set to launch its IPO this year, while a Shanghai-based AI chip firm is valued at over $3 billion, Wang mentioned, though she did not disclose the names of the companies.

"We believe that upstream chipmakers will drive and play a leading role in China, creating their own ecosystem. We may not rely too heavily on Nvidia's Cuda system," Wang stated.

She expressed confidence in both the Chinese entrepreneurs and the consumer base market.

Approximately 1,500 companies in China specialize in the design of integrated circuits (IC), but there is a shortage of companies in the AI chip training sector, with only around 20 start-ups operating in this field.

The Chinese government aims to boost its computing power by 50% by 2025, as stated in a plan released in October. This is viewed as a crucial step in advancing AI technology, which requires advanced semiconductors to process large amounts of data.

The U.S. government's ban on China's access to advanced semiconductors is aimed at preventing their use for military purposes and modernization, according to U.S. Commerce Secretary Gina Raimondo. However, it is not intended to harm Chinese economic growth, U.S. officials stated.

Despite U.S. sanctions, Huawei's latest smartphone, the Mate 60 Pro, has a chip that appears to support 5G.

The Chinese chip made by SMIC has raised concerns in Washington and sparked questions about its production process. Additionally, there is scrutiny on whether the process used to manufacture these new chips is efficient enough on a large scale to support a Huawei comeback.

CNBC’s Kif Leswing and Arjun Kharpal contributed to this report.