A series about the effect China’s global power is having on nations and people’s lives. Washington this month blacklisted Semiconductor Manufacturing International Corp., accusing it of being a front for the Chinese military and cutting it off from American equipment and investment. That raises the specter of Chinese retaliation against an American company such as Apple, which would in turn hurt TSMC.
Beijing’s suggestion that it might invade Taiwan and return it to Chinese dominion could further imperil TSMC’s freedom. China has long yearned for a company as advanced as TSMC. It has invested billions of dollars and poached hundreds of Taiwanese engineers in a national Manhattan Project-like bid to catch up to Taiwan, South Korea and the U.S. Despite those efforts, China remains years behind and must import all but 15% of its semiconductors, spending more on the technology than on foreign crude oil each year.
China Inc.’s IPO haul from the US and at home hits record high Premium
China Inc raised money at home and overseas in initial public offerings like never before, buoyed by the country’s early emergence from the pandemic.
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China’s Top Chipmaker Slides After Co-CEO Abruptly Quits
Bloomberg 12/16/2020 Bloomberg News
(Bloomberg) Semiconductor Manufacturing International Corp. shares fell after news emerged about the surprise resignation of a top executive who spearheaded the rapid technological ascent of China’s largest chipmaker.
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SMIC is trying to reach co-Chief Executive Officer Liang Mong Song after online media circulated a resignation letter they said originated with the industry veteran. Liang quit after SMIC appointed a vice chairman without consulting him, according to the reports. The company is attempting to clarify his intentions, it said in an exchange filing without elaborating. Liang couldn’t immediately be reached for comment.
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