SMIC says U.S. blacklisting will hurt its advanced technology R&D

China's biggest chipmaker SMIC said on Sunday that being put on a U.S. trade blacklist would pose a significant adverse impact to its research and development in its 10-nanometer and more advanced chip technology.

China's biggest chipmaker SMIC said on Sunday that being put on a U.S. trade blacklist would pose a significant adverse impact to its research and development in its 10-nanometer and more advanced chip technology. The United States added dozens of Chinese companies, including SMIC and Chinese drone manufacturer SZ DJI Technology Co, to a trade blacklist on Friday.

In a filing on the Shanghai stock exchange, the chipmaker said it did not expect the U.S. decision to have a major negative impact on its short-term operations and finances. SMIC said it would keep communicating with the U.S. government and take all possible steps for a solution.

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