Chinese Economics Thread
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Russian lady who is an internet influencer, promotes Russian goods in border town.
She seems happily settled down with a local guy.
Another day and another sanction.
Trump administration to add China’s SMIC, CNOOC to export blacklist: report
A man stands outside the headquarters building of China National Offshore Oil Corporation (CNOOC) in Beijing in 2016. AFP/Getty Images
The Trump administration is set to add China’s largest chip maker, SMIC, and oil giant CNOOC to its export blacklist, claiming they’re owned or controlled by the Chinese military, Reuters reported Sunday.
It was unclear exactly when the new designations would take effect. China Construction Technology Co. Ltd. and China International Engineering Consulting Corp. will also reportedly be added to the list. The designation would make it far more difficult for U.S. companies to export technology to the four Chinese companies. Huawei Technologies Co. was added to the list in May.
Semiconductor Manufacturing International Corp. is China’s most advanced semiconductor manufacturer, and China National Offshore Oil Corp. is one of China’s largest energy companies.
CNOOC shares 883, -8.47% plunged more than 7% in Monday trading in Hong Kong, while SMIC 981, 0.00% fell about 1%. SMIC pulled its U.S. stock listing last year, while CNOOC’s American depository receipts CEO, -1.60% are down 27% year to date.
Trump administration to add China’s SMIC, CNOOC to export blacklist: report
A man stands outside the headquarters building of China National Offshore Oil Corporation (CNOOC) in Beijing in 2016. AFP/Getty Images
The Trump administration is set to add China’s largest chip maker, SMIC, and oil giant CNOOC to its export blacklist, claiming they’re owned or controlled by the Chinese military, Reuters reported Sunday.
It was unclear exactly when the new designations would take effect. China Construction Technology Co. Ltd. and China International Engineering Consulting Corp. will also reportedly be added to the list. The designation would make it far more difficult for U.S. companies to export technology to the four Chinese companies. Huawei Technologies Co. was added to the list in May.
Semiconductor Manufacturing International Corp. is China’s most advanced semiconductor manufacturer, and China National Offshore Oil Corp. is one of China’s largest energy companies.
CNOOC shares 883, -8.47% plunged more than 7% in Monday trading in Hong Kong, while SMIC 981, 0.00% fell about 1%. SMIC pulled its U.S. stock listing last year, while CNOOC’s American depository receipts CEO, -1.60% are down 27% year to date.
This will place an interesting conundrum for ASML who was claiming they could sell DUV lithography tools to China. AFAIK all their light sources come from Cymer in the USA. Time to buy Japanese or Chinese tools I guess.
China should file lawsuits to stop all of these sanctions.
Hi KYli,
The shock value is not as pronounced, it's like the Chinese EXPECTED IT, so what else is new. Ever since the Huawei ban every Chinese company are prepared for this eventuality. It's a golden opportunity for other nation to fill the void.
The goal now should be to get TESLA so invested in China that when the Chinese gov. forces TESLA to be sold to a Chinese firm, they either have to do it or perish as a company; all the more so given that TESLA seems like a cutout for CIA ops
No.
US should be uprooted from global financial system. They have become irritating weeds.
Nah China can beat them fair n square. Electric cars isn't like jet turbines or EUV machines.
That's why they risked coming into the Chinese market in the first place, they don't want to lose out on the initial potential sales before they get beaten.
It's how the free market works. Either you get in the market, or someone else will. That's why denying technology to someone only works when you have total control and total monopoly.