Chinese chip giant to take a position $9 bn in new plant as US ban bites

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China’s best chipmaker talked about Friday it would make investments $8.87 billion in a model new semiconductor plant in Shanghai, as Beijing is hit by a US blacklist and a worldwide chip shortage.

The nation is working terribly low on superior microchips following a US ban on many product sales to the nation, and after production lines had been hit by the COVID-19 pandemic.

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The US authorities blacklisted Semiconductor Manufacturing International Corp (SMIC) ultimate September over security concerns, denying it entry to superior manufacturing instruments from American suppliers.

On Friday SMIC—which has denied hyperlinks to the Chinese navy—talked about it would pour funding right into a model new chip plant throughout the east of the nation.

“The new plant in Shanghai will produce about 100,000 12-inch wafers per month,” SMIC talked about in submitting to the Hong Kong stock commerce.

These are older-generation chips globally briefly present, and utilized in all of the items from home appliances to self-driving cars.

“The US tech export ban has affected plans to develop smaller, more advanced chips,” the group’s CEO Zhang Haijun knowledgeable state-run Global Times ultimate month.

SMIC has obtained billions of {{dollars}} in assist from Beijing and is on the coronary coronary heart of its efforts to boost the nation’s technological self-sufficiency.

There has been a flurry of latest funding pledges by chipmakers after most important Chinese tech hubs launched concessions along with tax breaks and low rents in present months.

SMIC launched plans to assemble smaller semiconductor factories in Beijing and Shenzhen earlier this 12 months.

In April, Taiwan Semiconductor Manufacturing Co.—the world’s best contract chipmaker—talked about it would make investments $2.8 billion to develop its manufacturing functionality in Nanjing.


China chip giant SMIC shares dive on US export controls


© 2021 AFP

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Chinese chip giant to take a position $9 bn in new plant as US ban bites (2021, September 3)
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