ExclusiveTech war: US officials said to start talks with Chinese chip equipment maker Naura Technology Group over new export restrictions
- US trade officials from the American embassy in Beijing initiated talks with Naura executives at the firm’s headquarters in the nation’s capital
- The meeting was held weeks after a subsidiary of the company was added to Washington’s trade watch list
US trade officials from the American embassy in Beijing held talks with executives of Naura Technology Group last week at the Chinese company’s headquarters in the nation’s capital, according to the person, who declined to be named because the discussions were private.
Naura on Monday declined to comment about having a meeting with US officials.
In an earlier corporate filing to the Shenzhen Stock Exchange, Naura downplayed its subsidiary’s inclusion in the UVL by indicating that this business accounted for only 0.5 per cent of the group’s total revenue in 2021. Naura’s shares closed up 1.25 per cent to 265.90 yuan (US$36.70) on Monday.
The US embassy in Beijing did not immediately reply to a request for comment on Monday.
BIS export control officers form part of the US commercial services group stationed at the embassy, according to the website of the US Commerce Department’s International Trade Administration. Phone calls made to the listed telephone numbers were not answered.
The meeting with Naura, if confirmed, would represent the latest signal that Chinese semiconductor companies are willing to comply with the latest US rules to avoid harsh trade restrictions, which could lead to unwanted disruptions or potentially cause their business to go under.
That move followed the BIS’ notice on restricting the “ability of US persons to support the development or production” of chips at certain China-located semiconductor fabrication facilities without a licence.
“YMTC is a commercial entity that follows global, market-based and compliant concepts,” the company said. “We’ve always adhered to the principle of legal and compliant operation across the globe since [our] establishment.”
Last week, Lam Research president and chief executive Timothy Archer said the company has “taken the necessary steps to ensure full compliance with the rules, and ceased shipments and support as required”.