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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