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Semiconductors

Top China chipmaker SMIC sees 'no end' to market downturn

Company says U.S. export controls impacting orders from American clients

China's top chipmaker SMIC says its expansion plans remain on track even as it warns the current downturn in the sector looks set to continue well into 2023.     © Getty Images

TAIPEI -- Top Chinese chipmaker Semiconductor Manufacturing International Corp. on Friday said U.S. export controls are making some American clients "hesitant" to work with the company, and warned it is yet to see an end to the downturn in the overall chip industry.

At the same time, SMIC has increased its planned capital expenditure for 2022 to $6.6 billion, from $5 billion, citing the need to pre-order chipmaking equipment to keep its expansion plans on track.

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