SHANGHAI :
Chinese Chipmaker SMIC in 'Preliminary Exchanges' with U.S. Over Export Restrictions
CGTN
DATE:  Oct 05 2020
/ SOURCE:  Yicai
Chinese Chipmaker SMIC in 'Preliminary Exchanges' with U.S. Over Export Restrictions Chinese Chipmaker SMIC in 'Preliminary Exchanges' with U.S. Over Export Restrictions

(Yicai Global) Oct. 5 –- Chinese chipmaker Semiconductor Manufacturing International Corp (SMIC) said yesterday that it has undertaken "preliminary exchanges" with the U.S. Bureau of Industry and Security regarding export restrictions.

SMIC confirmed in a filing that some of its U.S. suppliers would have to apply for individual export licenses before carrying on the shipment of certain equipment to the company.

"We're evaluating the impact of the export restrictions on the company's production and business activities," said SMIC, while adding that it will maintain communication with the relevant U.S. departments.

SMIC also flagged up the potential adverse effects of prolonged delivery from its U.S. suppliers in the filling.

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.

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Keywords:   Export Restrictions,Semiconductor Equipment,US Goverment,SMIC