China’s top memory chip maker YMTC denies report that it has a secret plan to wean itself off US technology

China’s leading memory chip maker has denied a media report that it has set up a special task force to review its supply chain to replace US suppliers, saying it is committed to becoming part of the global semiconductor value chain.

Nikkei reported last week that Yangtze Memory Technologies Corp (YMTC) had launched a “massive review of its supply chain” to replace US producers by setting up a task force of over 800 people.

The Wuhan-based company wanted to learn about “the origin of everything that goes into its products, from production equipment and chemicals to the tiny lenses, screws, nuts and bearings in chipmaking machinery and production lines”, Nikkei reported, citing unidentified sources.

YMTC issued a statement on Monday evening saying it denied a “recent foreign media report”, in an apparent reference to the Nikkei report. “YMTC is a globalised company with a commitment to integrating into the global semiconductor supply chain,” the company said in the statement.

It added that it does not want to exclude partners from “any specific region” and was open to cooperating with “good companies” from all countries.

The denial comes at a time when China is trying to cut its reliance on foreign technology, especially that supplied by US companies.