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China’s YMTC Asks US Staff to Leave After US Chip Curbs – FT

The Chinese memory chipmaker YMTC has asked US employees to leave group in a bid to comply with the export restrictions imposed recently by the Biden Administration


A worker inspects chips at the semiconductor packaging firm Unisem (M) Berhad plant in Ipoh
Dutch officials have insisted that fresh controls address national security concerns rather than favour US chip-related companies. Photo: Reuters

 

The Chinese memory chipmaker Yangtze Memory Technologies Co (YMTC) has asked its US employees to leave group, which has received $30bn in support from Beijing, as it seeks to comply with the export restrictions imposed recently by the Biden Administration, the Financial Times reported on Monday, citing four sources.

Several employees in China had already left the company and its longstanding chief executive Simon Yang, said to be a US passport holder, stepped down from his post ahead of the sanctions announcement to become the group’s deputy chair, the report said, but it was unclear how many US citizens and green card holders would be forced to leave YMTC.

Read the full report: The FT.

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.

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