China is reportedly investing $1.9 billion (12.9 billion yuan) into its top memory chipmaker Yangtze Memory Technologies Co. (YTMC), according to media reports.

This follows tightened US restrictions on Chinese chipmakers in recent months, citing national security concerns. The restrictions block the firm and dozens of other Chinese companies from purchasing US chip technology, threatening Beijing's tech ambitions.

China’s biggest chipmaker posted a record 2022 revenue, amid US sanctions
China’s biggest chipmaker Semiconductor Manufacturing International Corp (SMIC) has reported record revenue growth in 2022, despite ongoing U.S. sanctions, according to CNBC. The semiconductor manufacturer was able to mark a record year of revenue growth despite being hit with a sweeping set of res…

The Chinese government has sunk billions of dollars into building up its own semiconductor industry over the past decade to lessen its reliance on foreign imports for its chips.

State-controlled Chinese business news outlet Jiemian on Thursday said the investment from the National Integrated Circuit Industry Investment Fund Ltd. was part of a capital infusion that also included two companies backed by the government of Hubei province, where YMTC is based.

Global semiconductor industry sales totalled $573.5 billion in 2022
The global semiconductor market experienced significant ups and downs in 2022, with record-high sales early in the year followed by a cyclical downturn later in the year amid macroeconomic conditions and short-term fluctuations in sales due to market cyclicality. According to the report by the Semi…