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TAIPEI (Reuters) –     Taiwanese semiconductor co*panies attach “great importance” to co*plying with the law, the island’s government said on Saturday, signalling they would co*ply with new U.S. export controls that aim to hobble China’s chip industry.

The rules announced Friday by President Joe Biden’s administration include a measure to cut China off from certain chips made anywhere in the world with U.S. equipment, vastly expanding its reach in its bid to slow Beijing’s technological and military advances.

Taiwan, a major chip producer, is home to Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker and a major supplier to co*panies including Apple Inc.

In a statement in response to the U.S. announcement, Taiwan’s Economy Ministry said Taiwanese firms were law-abiding.

“Taiwan’s semiconductor industry has long served global customers and attaches great importance to co*pliance with laws,” it said.

“In addition to co*plying with domestic laws and regulations, it will also cooperate with the needs of international customers who place orders and the norms of customers in their countries.”

Taiwan’s semiconductor industry is a technological leader and continues to “maintain an advantage in the co*petition for international orders”, the ministry said.

The government continues to maintain close contact with manufacturers and supports them in investing in factory expansion and supplying products to the world for technological development, the ministry said.

TSMC declined to co*ment on the U.S. rules, saying it was in its quiet period ahead of quarterly earnings next week. Smaller co*petitor United Microelectronics Corp also declined co*ment ahead of its earnings release later this month.

Taiwan has its own concerns about China, especially efforts by Chinese co*panies to poach chip talent and technical know-how. The government tightly restricts Taiwanese chip investment in China, the island’s largest trading partner.

Taiwan’s worries have gained pace as China mounts regular military drills near the island in an attempt to force it into accepting Beijing’s sovereignty.

The United States is Taiwan’s most important international supporter and arms supplier, despite the absence of formal diplomatic ties.

Taiwan Economy Minister Wang Mei-hua will visit the United States next week to respond to what her office called “concerns” about supply chains and geopolitical issues. She will visit U.S. tech firms that are major customers of Taiwanese semiconductor co*panies.

(Reporting by Ben Blanchard; Editing by William Mallard)