BIS to Add YMTC, Other Chinese Companies to Entity List, Report Says
The Commerce Department’s Bureau of Industry and Security is preparing to add China’s Yangtze Memory Technologies Co. and 35 other Chinese companies to its Entity List as early as this week, Bloomberg reported Dec. 13. YMTC and other companies have been at risk of being added to the Entity List since being placed on the BIS Unverified List in October. Under a new policy, BIS can transfer entities from the UVL to the more restrictive Entity List if they don’t cooperate with a U.S. end-use check within 60 days (see 2210070006). A BIS spokesperson didn’t comment.
U.S. additions to the Entity List "gravely" undermine "the normal business activities between Chinese and American companies," a Chinese foreign ministry spokesperson said Dec. 14, speaking at a regular daily press briefing in Beijing, in response to a Bloomberg reporter's question. "This is blatant economic coercion and bullying in the field of technology."