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Tags: SMIC | chipmaker | us | placing | restrictions | export

SMIC Says US Is Placing Export Restrictions on Its Suppliers

SMIC Says US Is Placing Export Restrictions on Its Suppliers

Sunday, 04 October 2020 09:20 AM

China’s largest chipmaker said its U.S. suppliers have been issued with letters telling them they are subject to additional export restrictions.

Semiconductor Manufacturing International Corp. is evaluating the impact of the U.S. Bureau of Industry and Security’s export restrictions on its business and operations, it said in a statement on Sunday. The move could have “material adverse effects” on its production and operations, the company said.

News of the restrictions on exports to SMIC was reported last week, causing the chipmaker’s shares to sink to a four-month low in Hong Kong trading last Monday.

China’s Foreign Ministry said in a briefing last Monday that it would “continue to take necessary measures to safeguard Chinese businesses’ legitimate rights and interests.”

© Copyright 2022 Bloomberg News. All rights reserved.


Headline
China's largest chipmaker said its U.S. suppliers have been issued with letters telling them they are subject to additional export restrictions.Semiconductor Manufacturing International Corp. is evaluating the impact of the U.S. Bureau of Industry and Security's export...
SMIC, chipmaker, us, placing, restrictions, export
119
2020-20-04
Sunday, 04 October 2020 09:20 AM
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