SMIC to invest $8.87 billion in chipmaking plant in Shanghai

On Friday, China’s Semiconductor Manufacturing International Corp said, it will invest $8.87 billion to build a chip plant in Shanghai. The development underscores Beijing’s efforts to boost its independence in the chip manufacturing sector. The development comes at a time when global chipmakers are struggling to fulfill orders from the electronics and automotive industries triggering new…

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Ericsson grabs Nokia’s market share in China

According to sources familiar with the matter at hand, Ericsson has won a 3% share in a joint 5G radio contract from China Telecom and China Unicom. Tender documents published by these Chine companies show, Nokia, which was expected to grab Ericsson’s market share in China, did not receive any share. The tender document doesn’t disclose percentage wins,…

China biggest cryptocurrency mining machines Bitmain suspends sales

In a statement China’s biggest maker of cryptocurrency mining machines Bitmain said, it had suspended sales of its products in the spot market to help ease selling pressure. The development comes after Beijing imposed a ban on mining bitcoins. Bitmain said, it is looking for “quality” power supplies abroad and is looking for foreign clients…

US Senate sees bipartisan support for sweeping legislation to strengthen US R&D, tech production

In a significant development, the U.S. Senate voted 68-32 to approve a sweeping legislative package aimed at boosting the country’s ability to compete with China, with the U.S. Congress seeking to take a tough line on Beijing. The bipartisan measure authorizes around $190 billion in provisions to strengthen U.S. technology and research spending; it will…

Huawei forays into designing chips for the smart vehicle sector

According to four sources with knowledge of the matter at hand, embattled Chinese tech giant Huawei Technologies is expanding its smart car partnership with state-owned Chongqing Changan Automobile Co Ltd to include the design and development of semiconductors for the auto sector. In the last 6 months both companies have been collaborating informally on designing…

China bans financial institutions from cryptocurrency related transactions

In a development that marks China’s latest attempt to clamp down on speculative trading of cryptocurrency, Beijing has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, warning investors against speculative crypto trading. Under the ban, institutions including banks and online payments channels are disallowed to offer clients any services involving…

Trump Administration adds China’s Comac and Xiaomi to trade blacklist

The Trump Administration has added nine Chinese companies, including Chinese plane maker Comac and mobile phone maker Xiaomi,  to a trade blacklist which Washington thinks are owned or controlled by the Chinese military. These companies will be subject to a new U.S. investment ban which will compel American investors to divest their holdings of the…

Beijing should impose digital tax on big data companies: government-backed Beijing News

In the latest sign of heightened government scrutiny over big technology companies, Beijing in a report News stated, China should consider imposing a digital tax on technology companies that hold vast amounts of user data. “Some third-party platform-like enterprises hold a large amount of users data, just like holding precious mineral mines,” said the state-backed…

ByteDance weaponizes legal system through endless negotiations, revised filings

According to a court filing, the Trump administration has granted TikTok’s owner ByteDance a new seven-day extension to an existing order directing the Chinese company to sell its TikTok short video-sharing app. Earlier the the Trump administration had granted ByteDance a 15-day extension which was set to expire on Friday. On August 14, U.S. President…

Intel sells its NAND chip business to South Korea’s SK Hynix for $9 billion

In a significant development, Intel Corp has agreed to sell its NAND memory chip business to South Korea’s SK Hynix Inc for $9 billion. The all-cash deal will propel the South Korean chipmaker to the second spot in global rankings. The development marks Intel’s efforts to divest its non-core businesse and move away from the volatile commodity…