Chinese chip firm Fujian Jinhua denies stealing IP from Micron

SHANGHAI (Reuters) – Chinese chipmaker Fujian Jinhua Integrated Circuit Co Ltd said on Saturday it offers not stolen any technology, following your U.S. Justice Department indicted the state-back firm for stealing trade secrets.

The U.S. Justice Department on Thursday indicted Fujian Jinhua, Taiwan’s United Microelectronics Corp and three individuals for conspiring to steal trade secrets from U.S. semiconductor company Micron Technology Inc in relation to its research and advancement of memory storage devices.

Earlier while in the week, U.S. President Donald Trump’s administration took action to slice Fujian Jinhua aloof from U.S. suppliers.

“Behaviour to steal another firm’s technology won’t exist,” Fujian Jinhua said inside a statement posted on its official website.

“Micron regards the introduction of Fujian Jinhua as a threat and adopts various way to hamper and destroy the introduction of Fujian Jinhua,” the statement said.

The company “always attaches great importance to your protection of ip rights,” Fujian Jinhua added.

The go on to block Fujian Jinhua escalated what previously was really a business dispute to the arena of a universal trade conflict between the Country and China.

The world’s top two economies happen to be waging a tariff war over their trade disputes, with U.S. duties in position on $250 billion valuation on Chinese goods and Chinese duties on $110 billion of U.S. goods.

The U.S. moves could seriously damage the ambitions of Fujian Jinhua, an organisation of strategic importance to China.

(Reporting by Adam Jourdan; Writing by Engen Tham; Editing by Jacqueline Wong)

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