what share of the DRAM market does China control today?
Changxin just became very profitable, due to high DRAM prices. They're planning an IPO. And, of course, building more fabs. Yangtze Memory Technologies isn't as far along, but they're building a new fab and planning an IPO.
Both of these companies were created in 2016 as part of a national effort to become a force in the DRAM industry. It took a while to get the technology working. Now it works, and they can scale up.
[1] https://chinabizinsider.com/how-the-economics-of-the-global-...