Huawei is building a secret network for semiconductor chips, trade group reportedly warns

News Snapshot:

Huawei Technologies Co is building a collection of secret semiconductor-fabrication facilities across China to let the company skirt U.S. sanctions, a Washington-based semiconductor association has warned, Bloomberg News reported on Tuesday. The Chinese tech giant moved into chip production last year and is receiving an estimated $30-billion in state funding from the government, the Semiconductor Industry Association said, adding that Huawei has acquired at least two existing plants and is building three others. The U.S. Commerce Department had added Huawei to its export control list in 2019 over security concerns. The company denies being a security risk. If Huawei is...