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Troubles rise for China’s biggest chipmaker SMIC

Semiconductor Manufacturing International Corporation (SMIC), China’s top chipmaker, is under mounting pressure as reports of its CEO’s looming departure and a potential U.S. sanction concern investors.
The U.S. Commerce Department is looking to add dozens of companies, mostly Chinese and including partially state-owned SMIC, to its trade blacklist, Reuters and The Wall Street Journal reported on Friday. The move would effectively restrict SMIC from buying key components from U.S. suppliers to build advanced chipsets.
Telecoms equipment and smartphone making giant Huawei, which counts SMIC as a supplier, has been struggling with phone production after the Trump Administration added it to the trade blacklist and cut off its key chip access.
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