WORLD Chinese chipmaker SMIC in 'preliminary exchanges' with US over export restrictions

WORLD

Chinese chipmaker SMIC in 'preliminary exchanges' with US over export restrictions

CGTN

21:48, October 04, 2020

ee1a840f7f664ae7b5a9b9565fef7555.png

Photo: Office of SMIC in Beijing, China, September 6, 2020. /CFP

Chinese chipmaker Semiconductor Manufacturing International Corp (SMIC) said on Sunday that it is currently in "preliminary exchanges" with the U.S. Bureau of Industry and Security regarding export restrictions.

The company said in a statement that "it's evaluating the impact of the export restrictions on the company's production and business activities," adding that it will maintain communication with the relevant U.S. departments. 

The company reiterated that it has always adhered to compliance operations and abides by relevant laws and regulations.

Previously in September, Chinese Foreign Ministry spokesperson Wang Wenbin said the U.S. abuses export controls and other restrictive measures to unreasonably suppress Chinese companies, and China will continue to take necessary measures to safeguard the legitimate rights and interests of Chinese companies.

SMIC is the largest Chinese chip manufacturer. It made its trading debut on Shanghai's Nasdaq-style STAR Market in July, marking China's biggest IPO in a decade. Headquartered in Shanghai, it was listed in Hong Kong and New York in 2004 and delisted from the U.S. last year due to sluggish demand for its shares.


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue