The US move to impose restrictions on semiconductor exports to China has badly affected state-owned Yangtze Memory Technologies, which has suffered a big fall in its share price
Beijing: The Joe Biden administration turned up the intensity in the trade war with China as US suppliers started pulling out staff based at China’s leading memory chip maker and pausing business activities in the world’s most populous nation.
The US move to impose restrictions on semiconductor exports to China has badly affected state-owned Yangtze Memory Technologies, which has suffered a big fall in its share price.
Yangtze Memory Technologies is facing a freeze in support from key US suppliers including KLA Corp. KLAC, Lam Research Corporation and LRCX. The latest US move follows last week’s sweeping curbs against China’s chip sector, ostensibly aimed at preventing China from using US technology to advance its military power. The US move have a far reaching impact on the chip industry in China and may have a considerable effect on the Chinese economy.
According to reports, US suppliers have discontinued support for already installed equipment at YMTC in recent days and have temporarily stopped the installation of new tools.
US chip equipment manufacturers have stationed dozens of employees at the YMTC factory. They play a crucial role in operations at the factory apart from maintaining and developing its manufacturing capabilities.
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