US President Joe Biden meets with China's President Xi Jinping during a virtual summit from the Roosevelt Room of the White House in Washington, DC, November 15, 2021. And I think that’s a part of the discussion we’ll be having,” he said.
“I think China is trying to get a monopoly on the market share of legacy semiconductor chips as well. “We talked a lot about advanced semiconductor chips, but we also need look at legacy,” he reportedly said, referring to older computer chip technology which does not fall under export controls. Texas Republican Michael McCaul, who chairs the House Foreign Affairs Committee, was quoted by Reuters as saying he was concerned about the possibility of China trying to “get a monopoly” in the manufacture of less-advanced computer chips. Hua Hong Semiconductor, China’s second largest chip foundry, tumbled 5.8%. Shares in SMIC, which stands for Semiconductor Manufacturing International Corporation, sank 8.3% in Shanghai and 7.6% in Hong Kong on Thursday. “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. Gallagher was quoted as saying SMIC may have violated US sanctions, as this chip likely could not be produced without 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. (SMIC) headquarters in Shanghai, China, on Tuesday, March 23, 2021. The Semiconductor Manufacturing International Corp. The development has fueled fears among analysts that the US-China tech war is likely to accelerate in the near future. This is a “big tech breakthrough for China,” Jefferies analysts said Tuesday in a research note. TechInsights, a research organization based in Canada specializing in semiconductors, revealed shortly after the launch that the smartphone contained a new 5G Kirin 9000s processor developed specifically for Huawei by SMIC.
Last week’s launch shocked industry experts who didn’t understand how SMIC, which is headquartered in Shanghai, would have the ability to manufacture such a chip following sweeping efforts by the United States to restrict China’s access to foreign chip technology. The comments came after Huawei Technologies introduced the Mate 60 Pro, a Chinese smartphone powered by an advanced chip that is believed to have been made by SMIC. Shares in SMIC, China’s largest contract chipmaker, plunged on Thursday, after two US congressmen called on the White House to further restrict export sales to the company.
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