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China chipmaker SMIC keeps expansion on track amid US crackdown

Co-CEO says big local production demand driving revenue growth, outlook

TAIPEI -- Top China chipmaker Semiconductor Manufacturing International Co. says it is on track to triple production capacity in the next few years despite a U.S. blacklisting, as the company aims to capture rapidly growing domestic demand.

SMIC co-CEO Zhao Haijun said the Chinese national chip champion has benefited significantly from an industrywide trend of Chinese customers wanting to "localize at least a certain ratio" of production, while new foreign customers also reached out to SMIC for more production given the ongoing global crunch.

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