China’s Yangtze Memory takes on rivals with new chip plant

The Chinese memory chip producer Yangtze Memory Technologies plans to bring online a second plant in its home city of Wuhan as early as the end of this year, sources familiar with the matter say, in a move that could further close the company’s technology and output gap with global leaders such as Samsung of South Korea and Micron Technology of the US.

The company, also known as YMTC, needs to expand production after a growth spurt…