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China tech

China's Tsinghua Unigroup axes major memory chip projects

Debt-laden company to overhaul mobile chip unit under new investors

A Tsinghua Unigroup sign at a semiconductor expo in Shanghai in 2020. The company has now ditched plans for two key memory chip projects in China. (Source photos by AP and Reuters) 

TAIPEI/BEIJING -- China's state-backed Tsinghua Unigroup has scrapped major memory chip projects in two cities as new investors push to turn around the debt-stricken company that has been left reeling from U.S. restrictions on its access to vital technology.

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