New high-tech board opens in Shanghai as China ramps up production of DRAM chips

SHANGHAI - China's new Nasdaq-style high-tech board started operations today. Yi Huiman, chairman of the China Securities Regulatory Commission, announced the news this morning in Shanghai, according to a Caixin Global report.

Proposed by President Xi Jinping in November, the board is designed to improve the Chinese mainland's appeal to technology companies and encourage them to list on the Mainland rather than overseas, the report said.

Meanwhile, China is developing its first locally-designed DRAM chip. The online portal China Kowledge reports that Changxin Memory Technologies, which was founded in 2016, will soon become China's first mass producer of locally-designed key memory chips.

Changxin will compete against chips giants Micron Technology and Samsung Electronics in a US$100 billion a year market.

The Chinese company was taking steps to minimis its use of US technology, propelling it to redesign its dynamic random access memory (DRAM) chips, China Knowledge reported, adding that the company was taking measures to avoid infringing patents and potentially falling victim to U.S. pressures on China's rising tech industry.  www.webershandwick.cn (ATI).