https://www.oann.com/business/china-holds-emergency-talks/?utm_source=rss&utm_medium=rss&utm_campaign=china-holds-emergency-talks

(Reuters) – 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 U.S chip restrictions, Bloomberg News reported on Thursday.

The ministry summoned executives from firms including Yangtze Memory Technologies Co and supercomputer specialist Dawning Information Industry Co to attend closed-door meetings, the report said.

This month the Biden administration passed a sweeping set of export controls aimed at slowing Beijing’s technological and military advances, including a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. tools.

(Reporting by Jose Joseph in Bengaluru; Editing by Edwina Gibbs)

You Might Like
Learn more about RevenueStripe...