Chinese chipmakers rally on report US to renew export control exemptions for non-Chinese chipmakers in China

 

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Shares of Chinese chipmakers rally in Hong Kong, with HG Semiconductor surging more than 20%, SMIC up 4.9%. 

The Biden administration plans to allow top semiconductor manufacturers from South Korea and Taiwan to maintain and expand their existing chip-making operations in China without US reprisals, according to recent remarks by a senior Commerce Department official.

Alan Estevez, the US Commerce Department’s undersecretary for industry and security, said the US would renew export control exemptions for non-Chinese semiconductor fabrication plants in China for the foreseeable future, The Wall Street Journal reported.