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Chinese chipmaker SMIC-related shares surge, defying US’ stepped-up crackdown

Chinese chipmaker SMIC-related shares surge, defying US’ stepped-up crackdown
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China’s A-shares related to leading chipmaker Semiconductor Manufacturing International Corp (SMIC) surged on Monday, defying the Trump administration’ latest move of putting SMIC on its Entity List, which aims to contain China’s development of indigenous advanced technologies.

Industry observers noted that the US’ action amounts to a monumental obstacle for SMIC’s high-end chip production in the long run, but it has given the Chinese semiconductor sector a sober reminder of the urgency of building a self-controlled industry chain…

To read more: http://enapp.globaltimes.cn/#/article/1210569

SOURCE: GLOBAL TIMES

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