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Once a month, senior executives of Yangtze Memory Technologies Co. fly to Beijing for a flurry of meetings with China's top economic management bodies. They focus on the company's efforts to build some of the world's most advanced computer memory chips — and its progress on weaning itself off American technology.
So far, Yangtze Memory, also known as YMTC, has remained under the radar of the U.S. government. But the company is taking no chances. With the guidance of Beijing, it has launched a massive review of its supply chain in an effort to find local suppliers — or, at least, non-U.S. ones — to replace the current dependence on American technology.

The collective effort has occupied over 800 people, full time, and including staff from its multiple local suppliers, for two years. And they have not finished yet

.While the rest of the city endured a brutal quarantine, high-speed trains remained in service to ferry YMTC employees to its $24 billion 3D NAND flash memory plant that began producing chips in 2019.

While the threat of sanctions hangs over them, so too does the largesse of state aid — subsidies and investment from local governments and the private sector have amounted to at least $170 billion since 2014, according to the state-backed China Securities Journal. There are also guaranteed orders with other Chinese chipmakers and domestic tech giants like Xiaomi, Oppo, Vivo and Lenovo.
https://www.newsbattle.net/2021/05/05/us-china-tech-war-beijings-secret-chipmaking-champions/

Yangtze Memory Explained: China's Next Semiconductor Giant 10 min video by asianometry:
https://www.youtube.com/watch?v=sxqcaViwnvM

As the semiconductor industry is cyclical, will the Chinese try to kill its Western competitors with Chinese state subsidies at the next downturn.