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The U.S. government is considering a fresh set of sanctions on several Chinese tech companies, including memory chipmaker ChangXin Memory Technologies, Bloomberg 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 bars companies from accessing U.S. tech know-how.
The bureau is also weighing restrictions on five other Chinese firms, the people said, asking not to be identified as discussions were private. However, the list has yet to be finalized, they added.
ChangXin, a manufacturer 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 instead was planning to raise funds at a valuation of 140B yuan ($19.5B.)
ChangXin, China’s leading maker of DRAM memory chips, competes with US-based semiconductor company Micron Technology (NASDAQ:MU) and South Korean tech firms Samsung Electronics (OTCPK:SSNLF) and SK Hynix.
