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SHANGHAI (Reuters) - The world is going through an unprecedented chip shortage, Zhou Zixue, a senior official with the China Semiconductor Industry Association, said on Wednesday, after semiconductor sales grew 18% last year.
“If you are an experienced player, you will remember that in 1999 there was a similar crisis in this industry, but it was way smaller,” Zhou, chairman of Semiconductor Manufacturing International Corp (SMIC), said in remarks at SEMICON China.
“We have to deepen our cooperation, we have to give more attention to innovation. Only by doing that our industry can control the challenges facing us.”
China is the world’s largest buyer of semiconductors, but domestic production is marginal. Sales in China grew 17.8% in 2020 from a year earlier to 891 billion yuan ($137 billion), according to CSIA.
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(Reuters) - Chinese companies targeted by a sweeping investment ban imposed by former President Donald Trump are considering suing the U.S. government after a federal judge on Friday suspended a similar blacklisting for Beijing-based smartphone maker Xiaomi.
FILE PHOTO: The logo of Xiaomi is seen inside the company s office in Bengaluru, India, January 18, 2018. REUTERS/Abhishek N. Chinnappa/File Photo
Lawyers familiar with the matter said some of the banned Chinese companies are in talks with law firms including Steptoe & Johnson and Hogan Lovells, emboldened by U.S. District Judge Rudolph Contreras’ preliminary order halting Xiaomi’s inclusion on a U.S. list of alleged Communist Chinese military companies that are subject to an investment ban.
Chinese companies affected by a sweeping investment ban imposed by former US President Donald Trump are reportedly considering suing the US government after a federal judge suspended a similar blacklisting for Beijing-based smartphone maker Xiaomi.
Lawyers familiar with the matter told the Reuters news agency that some of the banned Chinese companies are in talks with law firms, including Steptoe & Johnson and Hogan Lovells, emboldened by US District Judge Rudolph Contreras’ preliminary order on Friday halting Xiaomi’s inclusion on a US list of alleged Communist Chinese military companies that are subject to an investment ban.
The Trump administration’s move to blacklist Xiaomi Corp, which knocked $10bn off its market value and sent its shares down 9.5 percent in January, would have forced investors to completely divest their stakes in the company.
The world is going through an unprecedented chip shortage, Zhou Zixue, a senior official with the China Semiconductor Industry Association, said on Wednesday, after semiconductor sales grew 18%. | March 19, 2021
Blacklisted Chinese firm eyes lawsuits after Xiaomi win against Trump ban 17 Mar 2021 / 10:31 H. REUTERSPIX
Chinese companies targeted by a sweeping investment ban imposed by former President Donald Trump are considering suing the U.S. government after a federal judge on Friday suspended a similar blacklisting for Beijing-based smartphone maker Xiaomi.
Lawyers familiar with the matter said some of the banned Chinese companies are in talks with law firms including Steptoe & Johnson and Hogan Lovells, emboldened by U.S. District Judge Rudolph Contreras preliminary order halting Xiaomi s inclusion on a U.S. list of alleged Communist Chinese military companies that are subject to an investment ban.