According to a report, the Chinese government is holding crisis meetings with the affected companies in response to tightened US export restrictions on certain technologies. In recent days, representatives of the Department of Economy and Information Technology met with executives from leading chip manufacturers to discuss the effects of the US ban, Bloomberg news agency reported.
The memory chip provider YMTC and the supercomputer specialist Dawning, among others, were involved in the talks behind closed doors. At these meetings, executives argued that the US ban was the downfall of the industry, the report said. In addition, it will be impossible to technologically decouple the Chinese economy from the US as planned. Neither YMTC, Dawning, nor the ministry were immediately available for comment.
In early October, krone.at US President Joe Biden banned manufacturers of special equipment from exporting machines for the production of advanced computer chips to China. According to experts, this throws the People’s Republic back into the planned expansion of its semiconductor industry. It also hampers progress in developing high-performance chips for artificial intelligence or weapon systems. To mitigate the impact, the Beijing government could invest more taxpayers’ money in development.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
