The company exists on the principles of market competition, according to its representatives.
Bloomberg reported yesterday that at a meeting of the Ministry of Industry and Information Technology of China, representatives of the Chinese company YMTC expressed uncertainty about their ability to maintain business in the face of new targeted sanctions from the United States. The Chinese authorities in response, according to the source, recommended that such companies rely on the domestic market of China and promised to provide subsidies necessary for the functioning of the business.
Image Source: YMTC
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A press release later appeared on the YMTC website, which denied the company’s participation in such a meeting, and also strongly emphasized its commitment to the principles of legality and market competition. The memory manufacturer even threatened those media outlets that spread false information about him with prosecution. For YMTC, any association with the Chinese authorities will only exacerbate the current situation, so the irritation of the memory manufacturer is understandable.