Tag: Semiconductor Manufacturing International Corporation

American Firms Invested $1 Billion in Chinese Chips, Lawmakers Find

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A congressional investigation has determined that five American venture capital firms invested more than $1 billion in China’s semiconductor industry since 2001, fueling the growth of a sector that the United States government now regards as a national security threat. Funds supplied by the five firms — GGV Capital, GSR Ventures, Qualcomm Ventures, Sequoia Capital and Walden International — went to more than 150 Chinese companies, according to the report, which was released Thursday by both Republicans and Democrats on the House Select Committee on the Chinese Communist Party. The…

Apple’s Stock Falls on Reports of a Chinese Government iPhone Ban

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Apple’s China conundrum Shares in Apple, the world’s most valuable public company, suffered their biggest single-day fall in a month on Wednesday following a report that China would extend a ban on iPhones for government workers. Any hint that the company’s business in China is under threat would understandably give investors a fright, and its shares are down another 3 percent in premarket trading Thursday morning. But the ripples will be felt more broadly: If one of the most successful operators in the world’s second-largest economy is at risk, can…

‘De-Americanize’: How China Is Remaking Its Chip Business

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Last October, construction plans for a hulking semiconductor factory owned by a major state-backed company in central China fell into disarray. The Biden administration had escalated the trade war over technology, severing China’s access to the Western tools and skilled workers it needed to build the most advanced semiconductors. Some employees with U.S. citizenship departed the company. Three U.S. equipment suppliers almost immediately halted their shipments and services, and Europe and Japan are expected to do the same soon. The facility belonged to Yangtze Memory Technologies Corporation, or YMTC, a…

Chinese companies that aid Russia could face U.S. repercussions, commerce secretary warns.

Chin@Strategy

Gina Raimondo, the secretary of commerce, issued a stern warning Tuesday to Chinese companies that might defy U.S. restrictions against exporting to Russia, saying the United States would cut them off from American equipment and software they need to make their products. The Biden administration could “essentially shut” down Semiconductor Manufacturing International Corporation or any Chinese companies that defy U.S. sanctions by continuing to supply chips and other advanced technology to Russia, Ms. Raimondo said in an interview with The New York Times. The United States, the European Union and…