In response to US sanctions, China held an “emergency meeting” with the heads of chip companies.

According to Reuters According to Bloomberg, China’s Ministry of Industry and Information Technology has held “emergency meetings with top companies in the semiconductor industry” in the last week to assess the damage caused by the new US sanctions. Apparently, this ministry of senior managers of companies YMTC has invited Dawning Information Industry to participate in a closed-door meeting.

Government Joe Biden This month, he imposed new sanctions against China to slow down the growth of this country in the field of technology and military. One part of the new sanctions is to limit the sale to China of certain types of advanced chips as well as the equipment needed to make the chips.

Experts said the new US sanctions would have far-reaching effects on China’s operations and undermine the country’s ability to further develop its chip industry. More precisely, experts have claimed that the United States seeks to weaken China’s power in the field of military weapons, development of artificial intelligence, data centers and other sectors that require supercomputers and numerous and powerful chips.

According to informed sources, most of the participants in the meeting with the Ministry of Industry and Information Technology of China said that the restrictions imposed by the US government will destroy the Chinese chip industry and destroy the country’s dream of separating its economy from the United States.

YMTC, Dawning Information Industry and China’s Ministry of Industry and Information Technology did not respond to Reuters requests for clarification on Bloomberg’s claims.

Xi JinpingThe President of China said on Monday that his country will attract an army of brains in response to the US sanctions to win the competition.