Business News Asia
The U.S. government plans to blacklist Yangtze Memory Technologies, a Chinese manufacturer of memory semiconductors, and other Chinese companies to prevent them from buying U.S. technology products. The U.S. Department of Commerce plans to add Yangtze Memory Technologies and 35 other Chinese companies to its entity list as earlier as this week.
Blacklisted companies cannot purchase technology products from U.S. companies unless they have a special export license issued by the U.S. Department of Commerce.
The move is the latest in a series of conflicts between the U.S. and China over technology. Last October, President Joe Biden’s administration issued a series of regulations barring China from buying semiconductors and chip-making equipment.
The Chinese government has been working with U.S. authorities to prevent Yangtze Memory Technologies and other companies from being blacklisted. These efforts include working with the U.S. government to disclose certain information about these companies’ products and operations.