SMIC has had 'preliminary exchanges' with U.S. over export restrictions

tagreuterscom2020binary_lynxmpeg930dy-viewimagetokenukfrhuv30fk9otlxcnegvmkvg7don1wr81kix5wuiti_oqvfflc.JPEG


SHANGHAI (Reuters) – Chinese chipmaker Semiconductor Manufacturing International Corporation has undertaken “preliminary exchanges” with the U.S. Bureau of Industry and Security regarding export restrictions, the company said on Sunday in a filing.
“The Company is conducting assessments on the relevant impact of such export restrictions on the company’s production and operation activities,” the filing to the Hong Kong Stock Exchange said.
SMIC also said it has been operating in compliance with the relevant laws and regulations of all jurisdictions where it performs its businesses.
The company also advised shareholders and potential investors “to exercise caution when dealing in the securities of the Company.”
In September, Reuters reported that the Bureau of Industry and Security under the Department of Commerce had issued letters informing certain companies they must henceforth obtain a licence before continuing to …

Read More on Datafloq
Credit: Source link