SMIC: US bans China’s top chipmaker from using American technology

Hong Kong CNN Business — China’s top chipmaker was already having a rough week. Dozens of Chinese companies, including SMIC and drone maker DJI, were added to the Commerce Department’s so-called Entity List, which effectively cuts them off from US suppliers and technology. “Items uniquely required to produce semiconductors at advanced technology nodes — 10 nanometers or below — will be subject to a presumption of denial to prevent such key enabling technology from supporting China’s military-civil fusion efforts,” the US Commerce Department said. Asked about the Reuters report, a spokesperson for China’s Ministry of Foreign Affairs on Friday accused Washington of “using its state power to suppress Chinese companies.” “We urge the US to stop its wrongful behavior of unreasonably suppressing foreign enterprises,” Wang Wenbin told reporters at a regular press briefing. “China will continue to take necessary measures to safeguard the legitimate rights and interests of Chinese enterprises.” SMIC shares sank about 5% in Hong Kong on Friday, with losses accelerating after the Reuters report.