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China's chip champion SMIC offers executives US$3.7 million in shares in effort to retain semiconductor talent msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
1dc6d3cc-6759-11eb-bc00-908c10a5850a image hires 150317 BEIJING (SCMP): Semiconductor Manufacturing International Corporation (SMIC), China’s chipmaking champion, said on Friday that it has not seen an exodus of customers amid ongoing US restrictions imposed by former US President Donald Trump and that it was “working hard” with US suppliers to mitigate risks in its supply chain. “The production capacity is tight around global foundries,” Zhao Haijun, co-CEO of SMIC, said on the company’s fourth-quarter earnings call. “Our customers, like us, can’t really change their suppliers right away. “They continue to work with us to make plans for their new products,” Zhao said, adding that some clients expressed worries over the supply chain disruptions. ....
news Beijing’s biggest chipmaking champion SMIC faces uncertain future after US blacklisting The headquarters of Semiconductor Manufacturing International Corp (SMIC) in Shanghai. Photo: Bloomberg The future of China s largest chip maker and Beijing s best hope to catch up with rivals in the critical field of semiconductor manufacturing is under a cloud after the company said it would have trouble developing advanced chipmaking processes after it was put on a US trade blacklist. (The addition to the blacklist) will have significant negative impacts on research and development of advanced processes smaller than 10 nanometre (based) upon our initial assessment, SMIC said in a statement on Monday, adding that the short-term impact on the company s operation and finances would be limited. ....
SMIC one of more than 60 Chinese firms blacklisted by U.S. under national security concerns Edwin Chan, Bloomberg News VIDEO SIGN OUT The U.S. Commerce Department announced itâs blacklisting Semiconductor Manufacturing International Corp., drone maker SZ DJI Technology Co. and more than 60 other Chinese companies âto protect U.S. national security.â âThis action stems from Chinaâs military-civil fusion doctrine and evidence of activities between SMIC and entities of concern in the Chinese military industrial complex,â the Commerce Department said in a statement. Commerce Secretary Wilbur Ross confirmed the move in a Friday morning interview with Fox Business. It was reported first by Reuters overnight. Shares in SMIC, Chinaâs top chipmaker, slid 5.2 per cent Friday in Hong Kong on the news. ....
US bans China s top chipmaker from using American technology By Jill Disis, CNN Business Published Dec 18, 2020 9:42:19 PM enablePagination: false endIndex: (CNN) China s top chipmaker was already having a rough week. Now its problems are getting much worse. The US government on Friday slapped harsh restrictions on Semiconductor Manufacturing International Corporation (SMIC) as the Trump administration continues to pile pressure on Chinese firms during its final weeks. The Commerce Department announced that dozens of Chinese companies, including SMIC, would be added to a so-called Entity List that effectively cuts them off from US suppliers and technology. We will not allow advanced US technology to help build the military of an increasingly belligerent adversary, US Commerce Secretary Wilbur Ross said in a statement, adding that the company perfectly illustrates the risks of China using US technology to modernize its military. ....