The Straits Times
Video of US blacklists Chinese chipmaker SMIC
VIDEO: REUTERS
PublishedDec 18, 2020, 11:50 pm SGT
https://str.sg/Jajh
They can read the article in full after signing up for a free account.
Share link:
Or share via:
Sign up or log in to read this article in full
Sign up
All done! This article is now fully available for you
Read now
Get unlimited access to all stories at $0.99/month for the first 3 months.
Get unlimited access to all stories at $0.99/month for the first 3 months.
including the ST News Tablet worth $398.
Let s go!
Spin the wheel for ST Read and Win now.
U.S. Blacklists More Than 60 Chinese Firms, Including SMIC
Bloomberg 12/18/2020 Bloomberg News
(Bloomberg) The U.S. Commerce Department announced it’s blacklisting Semiconductor Manufacturing International Corp., drone maker SZ DJI Technology Co. and more than 60 other Chinese companies “to protect U.S. national security.”
Popular Searches
“This action stems from China’s military-civil fusion doctrine and evidence of activities between SMIC and entities of concern in the Chinese military industrial complex,” the Commerce Department said in a statement.
Commerce Secretary Wilbur Ross confirmed the move in a Friday morning interview with Fox Business. It was reported first by Reuters overnight. Shares in SMIC, China’s top chipmaker, slid 5.2% Friday in Hong Kong on the news.
US Blacklists 59 Chinese Companies Over National Security Concerns
The United States has added dozens of Chinese companies, including a top manufacturer of semiconductors, to a trade blacklist because of national security concerns, Commerce Secretary Wilbur Ross said.
The Commerce Department released a list of 77 companies and affiliates to be included on the so-called entity list, including 59 Chinese companies.
“What this is all about is these are companies that are tied to the People’s Liberation Army,” Ross said on Dec. 18. “This has to do with is their access to very advanced semiconductor products.”
Among those blacklisted include Semiconductor Manufacturing International Corp. (SMIC), which is the largest Chinese chip manufacturer and supplies firms such as Qualcomm and Broadcom. Those companies will join the likes of Huawei and hundreds of other Chinese companies, according to Ross.
अमेरिका ने चीन की शीर्ष चिप निर्माता कंपनी को ब्लैकलिस्ट किया business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
U.S. Stocks Fall With Congress at Odds on Aid Bill: Markets Wrap
Bloomberg 12/18/2020 Kamaron Leach and Sarah Ponczek
(Bloomberg) U.S. stocks fell after Republican demands left Congress without a deal on a federal spending bill. Tesla Inc. edged higher in heavy trading ahead of its inclusion in the S&P 500.
Popular Searches
The benchmark index halted a three-day winning streak, though ended well of session lows with a late rally in aflood of trading volume associated with the quarterly expiration of options and futures on stocks and indexes. Almost 200 million shares of Tesla traded hands, four times the 30-day average, as funds benchmarked to the S&P 500 adjusted ahead of the carmaker’s Monday debut.