China Stockpiles Chips, Chip-Making Machines to Resist U.S.
Bloomberg 2/3/2021
(Bloomberg)
China is taking decisive steps to protect itself from a widening U.S. technology ban, with imports of computer chips and the machines that make them surging last year.
Chinese businesses bought almost $32 billion of equipment used to produce computer chips from Japan, South Korea, Taiwan and elsewhere, a 20% jump from 2019, a Bloomberg analysis of official trade data shows.
And with companies like Huawei Technologies Co. stockpiling supplies ahead of U.S. sanctions, imports of computer chips climbed to almost $380 billion making up about 18% of all of China’s imports for the year.
SMICY FEB 8 DEADLINE ALERT: Pawar Law Group Announces a Securities Class Action Lawsuit Against Semiconductor Manufacturing International Corp.– SMICY
February 03, 2021 15:21 ET | Source: Pawar Law Group Pawar Law Group New York, New York, UNITED STATES
NEW YORK, Feb. 03, 2021 (GLOBE NEWSWIRE) Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Semiconductor Manufacturing International Corp. (OTC: SMICY) from April 23, 2020 through September 26, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Semiconductor Manufacturing International Corp. investors under the federal securities laws.
To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
Delay to U.S. China investment ban leaves U.S. investors in limbo
A U.S. Treasury move to delay a ban on investments in companies linked to the Chinese military has left U.S. investors in limbo and unable to tap opportunities non-U.S. investors get to enjoy.
U.S.-China tensions ratcheted up in the final weeks of Donald Trump’s presidency with his executive order banning investments in companies his administration said were linked to Chinese military activities. Many of them deny those claims, which China’s government says lacks evidence.
A string of amendments and explanations followed the November order, buffeting Chinese stocks and bonds in the crossfire as investors struggled to understand which securities could be affected.
By John Richardson
HIGH VALUE semiconductors, which are defined as five nanometres (billionths of a metre) or less in size, have become the new oil – as vital as the black stuff for the workings of the global economy. Semiconductors will, in fact, become even more important as the age of oil comes to an end and as digitalisation and artificial intelligence progress.
And yet, remarkably, there are far fewer manufacturers of sophisticated, cutting edge semiconductors than producers of oil, as
The Economist highlighted last month. In 2000, there were 25 top-of-the-range manufacturers but now there are just three – Taiwan Semiconductor Manufacturing Co (TSMC) of Taiwan, South Korea’s Samsung and the US’s Intel.
5 Min Read
NEW YORK/LONDON (Reuters) - A U.S. Treasury move to delay a ban on investments in companies linked to the Chinese military has left U.S. investors in limbo and unable to tap opportunities non-U.S. investors get to enjoy.
FILE PHOTO: Chinese and U.S. flags flutter outside the building of an American company in Beijing, China January 21, 2021. REUTERS/Tingshu Wang
U.S.-China tensions ratcheted up in the final weeks of Donald Trump’s presidency with his executive order banning investments in companies his administration said were linked to Chinese military activities. Many of them deny those claims, which China’s government says lacks evidence.