Beijing, Feb 11, 2025 (AFP) - China's SMIC reports annual profit slump as tech curbs bite

NAMPA / AFP

2025-02-11

China's top chipmaker SMIC said Tuesday its 2024 profit had plunged significantly from the previous year, against a backdrop of surging trade tensions between Beijing and Washington. China has been seeking in recent years to shore up its self-reliance in the increasingly vital field of semiconductors, and Shanghai-based SMIC is the country's chipmaking champion. The firm faces pressure from Washington, which has taken steps in recent years to cut......

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