Semiconductor Manufacturing International Corporation was targeted by US sanctions in 2020 over concerns about its military ties. — Reuters picSHANGHAI, March 28 — China’s top chipmaker posted today a fall in annual profits last year, the first since the United States imposed sanctions on it in 2020 as technological rivalry between Beijing and Washington intensified.
Semiconductor Manufacturing International Corporation , China’s leading chipmaker, was targeted by US sanctions in 2020 over concerns about its military ties. Beijing is seeking self-sufficiency in semiconductor manufacturing, directing billions of dollars in state funds in recent years in a bid to catch up with foreign competitors.
Experts say SMIC has managed to produce a seven-nanometre chip — likely impossible without access to foreign technology — calling into question the effect of US sanctions.Chinese tech giant Huawei, which has also grappled with severe US restrictions, unveiled its new Mate 60 Pro smartphone last year powered by just such an advanced chip.
The United States has also urged allies, including the Netherlands and Japan, to restrict the flow of advanced technology to SMIC and other Chinese chip firms.
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