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TSMC gets 1-year U.S. license for China chip expansion

Record quarterly profits for Taiwanese chip giant

TAIPEI -- Taiwan Semiconductor Manufacturing Co. has secured a one-year license to continue ordering American chipmaking equipment for its expansion in China after the U.S. rolled out tough export controls to block Beijing's tech ambitions.

C.C. Wei, CEO of the world's biggest contract chipmaker, confirmed on Thursday that it had been given a one-year license covering its Nanjing manufacturing facility in China, confirming an earlier report by Nikkei Asia.

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