China chip maker YMTC says its tech not for military use after Pentagon list
Technology
Pentagon designates Chinese companies on account of their connection with China's military
SHANGHAI, (Reuters) - China's top memory chip maker YMTC said on Saturday its technology is not for military use after it was added to a Pentagon list of entities assisting China's military.
Last week, the United States added more than a dozen Chinese companies to the list, created by the Defense Department to highlight firms it alleges are working with Beijing's military.
In a statement to Reuters, YMTC said, "We have not supplied, or been directed by any entity, to supply our technology for military use."
"YMTC is not owned or controlled by the Chinese military and (we) refute any allegation that we pose a threat to U.S. national security," it said.
Being listed does not result in a prohibition of activities within the U.S., but it makes participants ineligible for Defense Department contracts.
Additionally, being included could trigger additional measures such as blacklisting by the U.S. Treasury Department, which would greatly limit their business opportunities in the United States.
