Tag Archive : SMIC

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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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The US Commerce Department has added China’s largest chipmaker, Semiconductor Manufacturing International Corporation (SMIC), to its entity list, after it determined there an “unacceptable risk” that equipment SMIC received could be used for military purposes, Reuters reported.

The move blocks US computer chip companies from exporting technology to SMIC without an export license. SMIC is the latest major Chinese firm to be put on the entity list; the Trump administration added phone manufacturer Huawei to the list in 2019.

According to The Wall Street Journal, the Commerce Department wrote in a letter to the computer chip industry on Friday that exporting products to SMIC would “pose an unacceptable risk of diversion to a military end use in the People’s Republic of China.”

In April, the administration tightened export rules on shipping goods to China. It claims it’s seeking to keep US companies from selling products that could be used

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