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China's Biggest Chipmaker gain Breakthrough Despite US Curbs
ZTE is shipping the first batch of chips built on 7nm technology and designed for bitcoin miners, industry watchers Tech Insights wrote in a blog post on Tuesday (May 11). In late 2020, the USA has cancel permission for unlicensed sale to the Chinese firm of equipment that can be used to fabricate semiconductors of 10nm and beyond, infuriating Beijing. . Ex-US President Donald Trump's administration blocked the Chinese tech firm from importing its 7 nm technology, a move that could break China's ambitions of dominating the cutting-edge semiconductor industry.
A person familiar with the developments confirmed the report, Said on condition of anonymity. SMIC climbed as much as 1.9% in Hong Kong, while Chinese chip and chip gear stocks like Shanghai Fudan Microelectronics Group Co., Naura Technology Group Co., and Advanced Micro-Fabrication Equipment Inc. gained more than 5%.
SMIC is China's largest and most advanced chip-making company. But it has been capitalizing on foreign technology due to a loophole in Washington's export controls, according to a report by the American Enterprise Institute (AEI). The company is a major provider of chips to Huawei, one of the world's biggest telecom suppliers. The success of SMIC is a reminder that China's export control regime may not be as effective as many think. It also comes at a time when American lawmakers have urged Washington to close loopholes in its Chinese-oriented curbs and ensure Beijing isn't supplying crucial technology to Russia.
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