The House Select Committee on China is calling for stronger restrictions on companies producing the equipment used to make semidconductor chips amid concerns their sales are boosting Beijing's chipmaking capabilities.

In a new report Tuesday, the panel said Chinese firms spent $38 billion on semiconductor manufacturing equipment from five major companies based in the U.S. and allied countries — ASML, Tokyo Electron, Applied Materials, KLA and Lam Research — last year.

This amounted to 39 percent of their aggregate revenue, the report noted.

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