Well, well. Turns out the Chinese is getting new sanction for stealing US technology.
US representative Mike Gallagher, chair of the US House of Representatives committee on China, called on the US Commerce Department on Wednesday to end all technology exports to Huawei and SMIC, according to Reuters.
Gallagher was quoted as saying SMIC may have violated US sanctions, as this chip likely could not be produced without US technology.
“The time has come to end all US technology exports to both Huawei and SMIC to make clear any firm that flouts US law and undermines our national security will be cut off from our technology,” he said.
Shares in SMIC, which stands for Semiconductor Manufacturing International Corporation, sank 8.3% in Shanghai and 7.6% in Hong Kong on Thursday. Hua Hong Semiconductor, China’s second largest chip foundry, tumbled 5.8%.