"Chinese espionage against the USA has been increasing and has been increasing rapidly", Sessions said.
Sessions noted that in 2015, China stated publicly it would not target American companies for economic gain.
"Obviously, that commitment has not been met", he said.
According to the DOJ, the value of the documents stolen by Chen, Ho, and Wang may be anywhere between US$400 million and US$8.75 billion dollars.
The Chinese company Fujian Jinhua, and its Taiwanese partner, United Microelectronics Corporation (UMC) have been identified by the DOJ and charged with conspiring to illegally transfer designs and program information for Micron DRAM chips, produced by the Idaho-based company. The technology would be jointly shared by both UMC and Fujian Jinhua.
"This is consistent with the state of confrontational actions over the last couple of weeks taken by the administration to tackle everything China's trying to do", said Samm Sacks, a senior fellow at the Center for Strategic and International Studies. Donald Trump has slapped tariffs on $250bn in Chinese products in an effort to narrow the USA trade deficit with China.
In a tweet on Thursday, Trump said he had spoken with the Chinese president, Xi Jinping.
The attorney general described it as a "brazen scheme" to steal and clone technology in order to compete with the US.
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The company had recently posted a teaser of its Samsung Developers Conference which is to be held on November 7 and November 8. Previous reports indicate that the foldable-screen device is codenamed "Winner" and has been under development for years.
UMC issued a response noting that the allegations in the indictment and complaint are "virtually the same as allegations in a civil complaint previously filed by Micron against UMC".
That indictment followed the unprecedented arrest earlier this year of a Chinese Ministry of State Security officer for economic cyber spying. "And it is unlawful". While the focus has been on hackers from Russian Federation and Iran, the USA also views China as a major cybersecurity threat. Chen later became the president of Jinhua and was put in charge of the China-based firm's DRAM production facility. Other cases have involved stolen wind turbine technology and software source code.
After Fujian Jinhua was placed on the export ban list by the Department of Commerce, UMC promptly declared on October 31 that it would suspend all business activity with the Chinese company. Two other former MMT staff, He Jianting, also known as J. T. Ho, and Wang Yungming, also known as Kenny Wang.
Micron, based in Idaho, is the only US -based company that manufactures DRAM. Wang allegedly downloaded secrets from Micron's servers in the United States and stored them on his Google Drive account, the indictment said. "I applaud the Department of Justice for using one of those tools today to hold China accountable, and encourage the Administration to take additional steps to crack down on economic espionage by Chinese businesses and the Chinese government".
The foreign agents' effort will be to "counter covert efforts to influence our leaders and the general public", Sessions said.
"But under President Donald Trump, the United States is standing up to the deliberate, systematic, and calculated threats posed, in particular, by the communist regime in China, which is notorious around the world for intellectual property theft".
"Nearly every one of our 56 FBI field offices throughout this nation has investigations into economic espionage that lead back to the country of China", Demers said. "The Chinese government is determined to acquire American technology, and they're willing to use a variety of means to do that".