I doubt it. China is not there yet w.r.t. semiconductor independence. There are people who say, buy AMD, but AMD is also subject to US laws...

So what will happen instead? From what I've seen so far, China is careful with counterattacking US because they know the US is stronger. I think the govt will just issue an angry statement but do nothing concrete internationally, while continuing their domestic efforts of semiconductor development as they already have, and also continuing with restructuring Xinjiang's economy (i.e. replacing foreign customers with domestic customers, as happened with cotton)