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China's biggest chipmaker has applied for 'voluntary delisting' from the New York Stock Exchange amid the trade war and Trump's crackdown on Chinese tech (SMI)

China's biggest chipmaker has applied for 'voluntary delisting' from the New York Stock Exchange amid the trade war and Trump's crackdown on Chinese tech (SMI)
Brendan McDermid/Reuters



Semiconductor Manufacturing International Corporation (SMIC), the largest chipmaker in China, is delisting from the New York Stock Exchange.




The "voluntary delisting" comes amid increased tensions between the US and China over trade and President Donald Trump's crackdown on Chinese tech companies.




SMIC claimed its decision has nothing to do with those tensions, attributing its decision instead to low trading volumes and administrative costs.




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The largest chipmaker in China has applied for a "voluntary delisting" from the New York Stock Exchange as President Donald Trump's administration increases its crackdown on Chinese tech.
Semiconductor Manufacturing International Corporation (SMIC) said in a Friday statement that it will file a form to delist with the US Securities and Exchange Commission (SEC) on June 3, and cease trading on June 13.
The company, whose primary listing is in Hong Kong, specializes in integrated circuit manufacturing and works with American companies like Qualcomm and Texas Instruments. Qualcomm, the Chinese telcom giant Huawei, and Belgian nanotechnology firm imec are minority shareholders in SMIC's R&D arm.
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