Minimum wage, one of the largest chipmakers in the world, is among several companies the Defense Ministry is considering designating as owned or controlled by the Chinese military, Reuters reports. Earlier this month, President Donald Trump signed an executive order, which will come into effect on January 11, which would prevent U.S. investors from purchasing securi ties of companies included in the defense blacklist.
In a statement to Reuters, the SMIC said it continued to “engage constructively and openly with the United States government” and that it “had no relationship with the Chinese military and did not manufacture not for military end users or end uses “.
SMIC, the largest semiconductor manufacturer in China, holds around 4% of the global foundry market, estimates market research firm TrendForce.
Its US customers include Qualcomm, Broadcom and Texas Instruments.
to exist currently 31 companies on the defense blacklist. The minimum wage is one of four startups the Defense Ministry plans to add, according to Reuters. The others are China Construction Technology, China International Engineering Consulting Corp and China National Offshore Oil Corp (CNOOC).
Related Downloads:
The company was delisted from the NYSE in May 2019, but said the move was driven by limited trade volume and high administrative costs, not the US-China trade war or government blacklist. American. States of Huawei and other Chinese technology companies.
The minimum wage has already been hit by export restrictions that prevent them from purchasing key equipment from US suppliers. Beginning of October, told shareholders that export restrictions set by the US Bureau of Industry and Safety could have “significant negative effects” on your production.
The executive order and the possible addition of startups to the defense blacklist is in line with the Trump administration’s tough stance against Chinese tech companies, including Huawei, ZTE and ByteDance, which it says pose a potential threat. for national security through its alleged ties to the Chinese government and military. But the future of many policies in the current administration after Joe Biden takes office on January 20 is uncertain.
Heaven32 has contacted the SMIC for comment.