According to Bloomberg News, China's Ministry of Industry and Information Technology has held a series of emergency meetings with leading semiconductor companies over the last week to assess the impact of US chip restrictions.
According to the report, the ministry summoned executives from companies such as Yangtze Memory Technologies Co (YMTC) and supercomputer specialist Dawning Information Industry Co to attend closed-door meetings.
The Biden administration enacted sweeping export controls this month aimed at slowing Beijing's technological and military advances, including sales restrictions on certain advanced chips and chip equipment tools.
According to experts, the new rules will have a wide-ranging impact, slowing China's efforts to develop its own chip industry and advance commercial and state research involving military weapons, artificial intelligence, data centers, and a variety of other areas powered by supercomputers and high-end chips.
According to Bloomberg, many attendees at the meetings argued that U.S. tariffs spell doom for their industry, as well as China's ambitions to decouple its economy from American technology.
In his full work report, Chinese President Xi Jinping called for his country to "win the battle" in core technologies as he kicked off the once-every-five-years Communist Party Congress on Sunday.
The work report, according to experts, could signal a shift in Beijing's approach to advancing its tech industry, with more state-led spending and intervention to counter US pressures.
(Source:www.economictimes.com)
According to the report, the ministry summoned executives from companies such as Yangtze Memory Technologies Co (YMTC) and supercomputer specialist Dawning Information Industry Co to attend closed-door meetings.
The Biden administration enacted sweeping export controls this month aimed at slowing Beijing's technological and military advances, including sales restrictions on certain advanced chips and chip equipment tools.
According to experts, the new rules will have a wide-ranging impact, slowing China's efforts to develop its own chip industry and advance commercial and state research involving military weapons, artificial intelligence, data centers, and a variety of other areas powered by supercomputers and high-end chips.
According to Bloomberg, many attendees at the meetings argued that U.S. tariffs spell doom for their industry, as well as China's ambitions to decouple its economy from American technology.
In his full work report, Chinese President Xi Jinping called for his country to "win the battle" in core technologies as he kicked off the once-every-five-years Communist Party Congress on Sunday.
The work report, according to experts, could signal a shift in Beijing's approach to advancing its tech industry, with more state-led spending and intervention to counter US pressures.
(Source:www.economictimes.com)
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