China To Aid Industries Affected By Us Holds Emergency Meeting
China Eager to Counter US Sanctions by Funding Affected Industries According to Bloomberg, MIIT officials invited executives from several semiconductor and supercomputer businesses, including 3D NAND memory producer Yangtze Memory Technologies Co. and supercomputer maker Dawning Information Industry Co., commonly known as Sugon, to discuss the impact of American sanctions on China’s chip and supercomputer industries. While chipmakers like Semiconductor Manufacturing International Co. and Yangtze Memory have both obtained financing from government-controlled funds and sold products to local firms, many Chinese high-tech companies, including Huawei, Inspur, Sugon, and ZTE, have historically relied on government-funded projects for growth....