News Snapshot:
China’s top chip foundries are pushing ahead with capacity expansion plans, helped by record-high revenues and profits on the back of strong demand and in the face of US threats to further restrict their access to advanced technologies. Semiconductor Manufacturing International Corp (SMIC), China’s largest fab, said its capital expenditure in 2022 will be about US$5 billion with most of the funds used for three new fab projects in Beijing, Shenzhen and Shanghai as well as the expansion of existing plants. The Shanghai-based company’s revenue rose to 35.6 billion yuan in 2021, an increase of 30 per cent year-on-year, while...
