Chipmaker SMIC Builds War Chest to Ramp Up Production

The Chinese mainland’s leading chipmaker Semiconductor Manufacturing International Corp. (SMIC) is accelerating its efforts to scale up production, announcing two fundraising plans so far this month.

This comes as China is trying to become more self-sufficient in high-tech components like microchips, following recent efforts by the U.S. to limit Chinese companies’ access to such products, especially Chinese telecom giant Huawei Technologies Co. Ltd.