China’s Ministry of Industry and Information Technology convened a series of emergency meetings over the past week with leading semiconductor companies, seeking to assess the damage from the U.S. chip restrictions, Bloomberg News reported on Thursday.
The ministry summoned executives from firms including Yangtze Memory Technologies Co (YMTC) and supercomputer specialist Dawning Information Industry Co (603019.SS) to attend closed-door meetings, the report said.
Oct 20 (Reuters) – China’s Ministry of Industry and Information Technology convened a series of emergency meetings over the past week with leading semiconductor companies, seeking to assess the damage from the U.S. chip restrictions, Bloomberg News reported on Thursday.
The ministry summoned executives from firms including Yangtze Memory Technologies Co (YMTC) and supercomputer specialist Dawning Information Industry Co (603019.SS) to attend closed-door meetings, the report said.
This month the Biden administration passed a sweeping set of export controls aimed at slowing Beijing’s technological and military advances, including sales restrictions on certain advanced chips and chip equipment tools.
Experts have said the new rules will have a broad impact, slowing China’s efforts to develop its own chip industry and advance commercial and state research involving military weapons, artificial intelligence, data centres and many other areas that are powered by supercomputers and high-end chips.
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