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The US government is considering a new round of sanctions against several Chinese technology companies, including memory chip maker ChangXin Memory Technologies, Bloomberg he reported Friday, citing people familiar with the matter.
The Commerce Department’s Bureau of Industry and Security is considering adding ChangXin to the so-called Entity List, which prevents companies from accessing US technological know-how.
The bureau is also considering restrictions on five other Chinese companies, the sources said, asking not to be identified because the discussions were private. However, the list is yet to be finalised, they added.
ChangXin, a maker of chips used in computer servers, smart vehicles and other consumer products, is based in the Chinese city of Hefei.
In December, Bloomberg reported that ChangXin delayed its plans for a domestic IPO and was instead planning to raise funds at a valuation of 140 billion yuan ($19.5 billion).
ChangXin, China’s top DRAM memory chip maker, competes with US semiconductor company Micron Technology (NASDAQ:MU) and South Korean technology companies Samsung Electronics (OTCPK:SSNLF) and SK Hynix.