Tag Archive : export

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SHANGHAI (Reuters) – Chinese chipmaker Semiconductor Manufacturing International Corporation has undertaken “preliminary exchanges” with the U.S. Bureau of Industry and Security regarding export restrictions, the company said on Sunday in a filing.

FILE PHOTO: FILE PHOTO: A security officer stands outside a building of Semiconductor Manufacturing International Corporation (SMIC) during its grand opening in Shanghai November 22, 2001./File Photo

“The Company is conducting assessments on the relevant impact of such export restrictions on the company’s production and operation activities,” the filing to the Hong Kong Stock Exchange said.

SMIC also said it has been operating in compliance with the relevant laws and regulations of all jurisdictions where it performs its businesses.

The company also advised shareholders and potential investors “to exercise caution when dealing in the securities of the Company.”

In September, Reuters reported that the Bureau of Industry and Security under the Department of Commerce had issued letters informing

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Shares in China’s biggest chip maker plunged on Monday following weekend media reports that Washington has imposed export controls on the company, the latest salvo in the battle for technological dominance over Beijing.

In a major blow for China’s advanced tech ambitions, the US Commerce Department reportedly ordered companies to seek permission before selling equipment to Semiconductor Manufacturing International Corp (SMIC).

Equipment sold to the Chinese company posed an “unacceptable risk” of being diverted to “military end use” according to a letter sent to major US computer chip firms that was seen by The Wall Street Journal and the Financial Times.

News of the letter, which was first reported on Saturday, hit SMIC’s share price in Hong Kong Monday morning with the company opening 7.64 percent lower at HK$17.10.

Advanced tech has become one of the many battlefronts that have opened up in the last few years as relations between

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