SHANGHAI (Reuters) – China’s semiconductor index leapt close to a three-year high on Monday on bets a U.S. order halting Taiwan Semiconductor Manufacturing Co’s shipments of advanced chips to Chinese customers could accelerate Beijing’s self-reliance efforts. TSMC will from Monday suspend shipments of certain sophisticated chips to some Chinese clients after receiving a letter from…
The Shanghai-based chipmaker said its third-quarter revenue rose 34 per cent from a year earlier to US$2.17 billion. Net profit for the quarter reached US$148.8 million, up 58.3 per cent from a year earlier. “The company achieved for the first time more than US$2 billion in quarterly revenue during the third quarter, representing a record…
Michael McCaul, chair of the House Foreign Affairs Committee, urged US Commerce Department agents to visit SMIC’s facilities and check whether the company is illegally producing chips for Huawei Technologies, the sanctioned telecommunications equipment company seen as a national champion within China’s chip industry. In a November 4 letter seen by Reuters, McCaul described what…
This is the third in a three-part series delving into the unprecedented challenges China is facing on its road to economic recovery, from inexperience in dealing with such crises to the compounding implications of internal demographic shifts and external trade hurdles. You can read the second part here. The story of how Chinese scientists overcame…