Boss of Chinese memory maker Yangtze departs for no obvious reason
YTMC is China's biggest memory maker and contributes to the nation's tech self-reliance goals. It is also around a quarter state-owned. Tsinghua Unigroup, Hubei provincial government and China's"Big Fund" founded YMTC in July 2016, the year Yang became CEO.The Big Fund, more formally known as the China Integrated Circuit Industry Investment Fund, provides financing to Chinese semiconductor design and manufacturing capabilities.
Executives associated with the"Big Fund" have not had an easy time lately. Over the past two months, China's anti-corruption enforcers haveat least seven execs or former execs associated with management company, Sino IC Capital, and/or the Big Fund. The man who oversaw big investments to YMTC, Ren Kai, was placed under investigation last month.
Few Chinese careers survive a corruption charge, as the nation's government abhors actual corruption. Government officials are also not keen on those who amass sufficient power or influence to challenge the Communist Party, or who fail to achieve government goals. A corruption charge is felt to sometimes be a way of disgracing potential rivals, or punishing failed managers.
score a gig providing parts to Apple's iPhone 14 , placing it alongside Samsung, SK Hynix and Kioxia. Global success of that sort is just the kind of win China craves.[PDF] whether Apple dealing with YMTC is a good idea. Some stateside lawmakers had previously advocated for YTMC to be placed on the US Bureau of Industry and Security's Entity List and requested a review of YTMC's potential as a national security threat.
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