China could face more chip restrictions in 2024, analysts say

China could face more semiconductor export curbs from the likes of the U.S. and the Netherlands to contain the Asian powerhouse's chip tech, analysts told CNBC.

Earlier this year, the Netherlands blocked Dutch semiconductor equipment maker ASML from exporting some of its deep ultraviolet lithography systems to China. ASML sells lithography machines that are key to manufacturing advanced chips.

It came after the U.S. tightened export controls on advanced semiconductors and chipmaking tools to China in October last year, building on previous rules. Washington is concerned that Beijing could use these advanced chips in artificial intelligence and military applications.

"I wouldn't be surprised if there's more [U.S. restrictions] coming just because we're still in the middle of this tit-for-tat. And there's a lot of hawks in the U.S. that are really concerned about China's military buildup," said Dan Hutcheson, vice chair and senior research fellow at TechInsights, on CNBC's "Squawk Box Asia" Tuesday.

Beijing slammed the Dutch government's move, urging the Netherlands to "uphold an objective and fair position and market principles."

China's Ministry of Commerce said last week that the U.S. is weaponizing export controls as a tool, adding that it is "highly concerned about the U.S.'s direct intervention" in the issue of high-tech exports by Dutch companies to China.

"It's further evidence that not just the U.S. government, but also other Western countries like the Dutch government, are going to keep ratcheting up some of the restrictions that we've seen around both chipmaking equipment and also advanced semiconductors," Chris Miller, author of "Chip War" told CNBC's "Squawk Box Asia" in early January.

In October, the U.S. banned the