Xiaomi requests to be removed from United States Communist Chinese military company list Watch Now
Xiaomi has filed a legal action against the US Defense and Treasury departments that seeks to remove itself from the country s official list of Communist Chinese military companies (CCMC).
The Department of Defense added Xiaomi onto the list in mid-January after it accused the company of appearing to be [a] civilian entity in order to procure advanced technologies in support of the modernisation goals of the Chinese military.
In the legal complaint [PDF], Xiaomi said it filed the lawsuit as the CCMC designation would cause immediate and irreparable harm to Xiaomi , including by cutting off Xiaomi s access to US capital markets.
Competition between the United States and China in semiconductor innovation and production dictates the future of technological supremacy.
Integrated chips, or integrated circuits, are the brains of electronic devices, and American companies sell nearly half of the global supply. China is now racing to catch up in the production of these chips. Thus far, the primary production countries are the United States, Japan, South Korea, Taiwan, and increasingly, China. Beijing set up a $29 billion semiconductor fund in October 2019, and its most prominent company is Semiconductor Manufacturing International Corporation (SMIC). Since 2015, China has invested about $100 billion in the semiconductor industry. However, the U.S. is also dependent on chips from Taiwan and South Korea; therefore, neither Beijing nor Washington are self-reliant.
NEW YORK, Jan. 31, 2021 /PRNewswire/ Pomerantz LLP announces that a class action lawsuit has been filed against Semiconductor Manufacturing International Corporation ("SMIC" or the "Company")
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NEW YORK, Jan. 31, 2021 /PRNewswire/ Pomerantz LLP announces that a class action lawsuit has been filed against Semiconductor Manufacturing International Corporation and certain of its. | February 8, 2021