💰 Biden blacklists China's YMTC, crackdowns on AI chip sector

TL;DR

WASHINGTON, Dec 15 (Reuters) - (This story has been officially corrected to fix the total number of Chinese entities removed from unverified list to reflect new guidance from Commerce)The Biden administration on Thursday added Chinese memory chipmaker YMTC and 21 "major" Chinese players in the artificial intelligence chip industry to a trade blacklist, broadening its crackdown on China's chip industry.The 21 Chinese AI chip entities being added to the trade blacklist, which include Cambricon Technologies Corp (688256.SS) and CETC, face an even tougher penalty, with the U.S. government effectively blocking their access to technology made anywhere in the world with U.S. equipment.As the Chinese government seeks to remove barriers between its military and civilian sectors, "U.S. national security interests require that we act decisively to deny access to advanced technologies,” Assistant Secretary of Commerce for Export Administration Thea Kendler said in a statement.The move builds on sweeping export controls imposed on Beijing in October to slow Beijing's technological and military advances, including measures to curb China's access to U.S. chipmaking tools and cut it off from certain chips made anywhere in the world with U.S. equipment.The Biden administration removed a subsidiary of Wuxi Biologics, a company that makes ingredients for AstraZeneca's COVID-19 vaccine, and 26 other Chinese entities from the so-called unverified list thanks to successful site visits."

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