Yangtze Memory Technologies Co (YMTC), China's leading 3D NAND flash memory maker, has begun the process for an initial public offering (IPO). This move aligns with China's broader strategy to achieve self-sufficiency in the semiconductor industry.

China’s push for semiconductor self-reliance is hitting the capital markets. The parent company of Yangtze Memory Technologies Co (YMTC), the nation’s leading 3D NAND flash memory manufacturer, officially started the tutoring process for an initial public offering (IPO) on Tuesday, according to a filing with the China Securities Regulatory Commission. Citic Securities and China Securities are acting as tutoring institutions. Meanwhile, its peer, ChangXin Memory Technologies (CXMT), China’s...