A look at Chinese state-owned investment bank CICC, which sponsored multibillion-dollar listings of China's tech champions, including CXMT and Zhongji Innolight (Financial Times)
CICC has become a dominant financier in Beijing's drive to compete with US in tech race — China's top investment bank …
Chinese state-owned investment bank CICC has played a significant role in sponsoring multibillion-dollar listings of China's tech champions, including CXMT and Zhongji Innolight. According to the Financial Times, CICC has become a dominant financier in Beijing's drive to compete with the US in the tech race.
CXMT, one of the companies sponsored by CICC, is a Chinese manufacturer that produces DRAM memory. Apple has been testing CXMT's DRAM across several products, including iPhones and MacBooks, and has held early talks with the company about supplying memory for devices sold in China.
The talks between Apple and CXMT come as the iPhone maker faces a potential shortage of DRAM, which could impact production of its upcoming iPhone 18 Pro. However, CXMT has quoted prices comparable to or even higher than Samsung and SK Hynix, and has already locked up much of its available output through long-term agreements with other Chinese manufacturers, including Huawei and Xiaomi.
Brief written by urgent.news from Techmeme, Digital Trends — 2 reports on this story. Machine-written — it may contain errors, so check the original before relying on it.
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