SMIC has had ‘preliminary exchanges’ with U.S. over export restrictions

SHANGHAI (Reuters) – Chinese chipmaker Semiconductor Manufacturing International Corporation has undertaken “preliminary exchanges” with the U.S. Bureau of Industry and Security regarding export restrictions, the company said on Sunday in a filing.

FILE PHOTO: FILE PHOTO: A security officer stands outside a building of Semiconductor Manufacturing International Corporation (SMIC) during its grand opening in Shanghai November 22, 2001./File Photo

“The Company is conducting assessments on the relevant impact of such export restrictions on the company’s production and operation activities,” the filing to the Hong Kong Stock Exchange said.

SMIC also said it has been operating in compliance with the relevant laws and regulations of all jurisdictions where it performs its businesses.

The company also advised shareholders and potential investors “to exercise caution when dealing in the securities of the Company.”

In September, Reuters reported that the Bureau of Industry and Security under the Department of Commerce had issued letters informing

Read More

Commerce Puts Tighter Export Controls On New Technologies

Law360 (October 2, 2020, 6:01 PM EDT) — The U.S. Department of Commerce tightened export controls on six developing technologies in a rule issued Friday, targeting tools used to make integrated circuits and microprocessors, and certain hacking tools and surveillance software.

The final rule implements multilateral controls on recently developed, or developing, technologies that were agreed to at a December 2019 meeting of signatories to the Wassenaar Arrangement, an international agreement covering export controls for certain weapons and dual-use technologies that have both military and civilian uses.

“The United States’ implementation of WA list changes ensures that U.S. companies have a level playing field with their competitors in other…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the

Read More

SMIC’s Hong Kong shares tumble after U.S. tightens export restrictions

FILE PHOTO: Chinese and U.S. flags flutter near the Bund in Shanghai, China July 30, 2019. REUTERS/Aly Song/File Photo

HONG KONG (Reuters) – Hong Kong-listed shares of Semiconductor Manufacturing International Corp fell more than 7% on Monday after the United States imposed restrictions on exports to China’s biggest chip maker, citing a risk of military use.

SMIC’s shares fell as much as 7.9% to HK$17.12 ($2.21), the lowest since May 29, and were last down 6.7%.

The company said it had not received any official notice of the restrictions and added it has no ties with the Chinese military.

Suppliers of certain equipment to SMIC will now have to apply for individual export licenses, according to a letter from the U.S. Commerce Department dated Friday and seen by Reuters.

Earlier this year SMIC raised $6.6 billion in a secondary listing on Shanghai’s tech-centric STAR market.

The company said it intended

Read More

TikTok applies for Chinese license to export technology

Sept. 24 (UPI) — TikTok’s parent company, ByteDance, requested permission from Beijing to export its technology, as the company’s executives work furiously to push through a deal with Oracle and Walmart before a November deadline.

The Chinese social media platform is making the move as SoftBank’s Masayoshi Son is expected to join the TikTok Global board, according to Fox Business.

Time is running out for TikTok if it wants to avert a shutdown in the United States. ByteDance’s application for an export license was submitted Thursday, the company said, according to CNBC and The Wall Street Journal.

ByteDance is complying with new Chinese regulations that restrict the export of technologies for “recommendation of personalized information services based on data analysis,” according to reports.

The regulations went into effect in August, as tensions grew with the United States over the status of Chinese tech firms. U.S. President Donald Trump ordered the

Read More

ByteDance Files for China Approval to Export TikTok Tech

(Bloomberg) — ByteDance Ltd., the Chinese parent of video app TikTok, submitted an application in Beijing for permission to export technology, as it tries to work out an agreement with the Trump administration that will avoid a U.S. ban on the service.

a hand holding a cell phone: The logo for ByteDance Ltd.'s TikTok app is arranged for a photograph on a smartphone in Sydney, New South Wales, Australia, on Monday, Sept. 14, 2020. Oracle Corp. is the winning bidder for a deal with TikTok’s U.S. operations, people familiar with the talks said, after main rival Microsoft Corp. announced its offer for the video app was rejected.

© Bloomberg
The logo for ByteDance Ltd.’s TikTok app is arranged for a photograph on a smartphone in Sydney, New South Wales, Australia, on Monday, Sept. 14, 2020. Oracle Corp. is the winning bidder for a deal with TikTok’s U.S. operations, people familiar with the talks said, after main rival Microsoft Corp. announced its offer for the video app was rejected.

The company said it filed the request with the city’s commerce bureau after China tightened restrictions on the export of certain technologies, including those used in TikTok. A spokesman for the commerce ministry acknowledged the filing Thursday, saying it’ll be assessed “in accordance with the relevant rules

Read More

ByteDance asks China for approval to export TikTok technology: report

TikTok’s parent company ByteDance has sought permission from the Chinese government to export technology, Bloomberg reported Wednesday.

ByteDance filed a request with the Beijing Municipal Commerce Bureau asking for approval to export its technology under restrictions recently implemented by the Chinese government, according to Bloomberg.

ByteDance, TikTok, and the Commerce Bureau did not respond to requests for comment.

In August, China expanded its list of “forbidden and restricted technology exports” to include “personalized information recommendation services based on data analysis” — such as the algorithm that powers TikTok. That move threw a wrench in the TikTok deal by requiring the company to obtain a license from the government, effectively giving Beijing veto power over a deal.

Following the announcement of the new rules, ByteDance reportedly considered bypassing that hurdle by selling TikTok without handing over its source code, but Bloomberg’s report Wednesday suggests the company wants the algorithm to be

Read More

Taiwan export orders grow at fastest pace in over two-and-a-half years

FILE PHOTO: Shipping containers are seen at Keelung port, northern Taiwan, March 20, 2016. REUTERS/Tyrone Siu

TAIPEI (Reuters) – Taiwan’s export orders grew at their fastest pace in more than two-and-a-half years in August, surging on strong global demand for its telecommuting products, as the coronavirus pandemic forces millions of people around the world to work from home.

The island’s export orders, a bellwether of global technology demand, rose 13.6% in August from a year earlier to $45.5 billion, Ministry of Economic Affairs data showed on Monday, setting a historic high for the month.

The data exceeded an 8.2% rise projected in a Reuters poll and a 12.4% increase in July. It was the sixth consecutive month of gains and the strongest since January 2018.

The ministry said the blockbuster performance was helped by continued strong demand for products such as laptops and tablets, with orders for electronics including smartphones

Read More