China’s YMTC denies report it took element in meetings on chip curbs

Chinese chip maker Yangtze Memory Technologies (YMTC) denied a media report that it experienced participated in emergency meetings convened by China’s marketplace ministry to talk about the impact of U.S. sanctions.

The business in a assertion late on Thursday described the report as “wrong and sinister,” adding that the report had ruined its company image and would have severe adverse consequences on the semiconductor field environment at home and overseas.

Bloomberg Information reported that YMTC, alongside with a quantity of other Chinese chip providers, fulfilled with China’s Ministry of Industry and Details Technological innovation to examine the influence of recent sanctions from Washington on China’s chip field. 

In accordance to the Bloomberg report, numerous of the members at the meetings argued that the U.S. curbs spell doom for their sector, as perfectly as China’s ambitions to untether its financial state from American technological innovation.

This month, the U.S. Section of Commerce enacted a set of constraints on Chinese chip organizations that avoid supercomputing businesses from obtaining superior synthetic intelligence chips, bar Chinese chip companies from obtaining sophisticated production gear, and forbid U.S. passport holders from functioning at Chinese providers building advanced chips.

Professionals say the sanctions, which have been handed just right before China’s 20th Bash Congress, will pose a main hurdle for China’s domestic chip business, which has been a critical priority for Chinese President Xi Jinping.