TECH - China's Top Memory Chip Maker YMTC Defies US Trade Restrictions Sees Soaring Demand On The Back Of Government Projects: Report | Benzinga
In defiance of U.S. trade restrictions, China’s leading memory chip manufacturer, Yangtze Memory Technologies Corporation, is experiencing a significant surge in domestic demand for its flash memory chips, particularly from government and military-related projects.
What Happened: Wuhan-based YMTC has seen a remarkable increase in demand for its flash memory chips, now the preferred choice for local clients, especially those involved in government and military projects. This surge in demand is part of China’s broader push to reduce its reliance on foreign semiconductor products, reported the South China Morning Post.
YMTC was added to the U.S. trade blacklist in 2022.
The company’s enterprise-level NAND flash memory chip prices have surged due to strong local demand, outstripping its current production capacity.
YMTC, which is privately owned, has not disclosed its business operations and financial information. The company received a $7 billion capital injection from state-backed investors last year, but it still ...