CHINA-S&T: CHINA'S LEADERSHIP CONVENES SERIES OF EMERGENCY MEETINGS OF TECH LEADERS IN WAKE OF LATEST U.S. RESTRICTIONS ON HI-TECH SALES

Bloomberg (October 20) reported that 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 Biden administration’s sweeping chip restrictions to contain China’s technological ambitions. The meetings were also to pledge support for the critical sector. It summoned executives from firms including Yangtze Memory Technologies Co. and supercomputer specialist Dawning Information Industry Co. MIIT officials appeared uncertain about the way forward and at times appeared to have as many questions as answers for the chipmakers, people familiar with the discussions said. While they refrained from hinting about counter-measures, officials stressed the domestic IT market would provide sufficient demand for affected companies to keep operating.





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