SMIC’s Shanghai listing tests if money alone can bring chip dominance to China

SHANGHAI (Reuters) – China’s biggest chipmaker SMIC is set to follow its staggering $6.6 billion share sale with its Shanghai market debut on Thursday, just as Sino-U.S. tension widens the chasm it wants to cross to reach global leader TSMC, industry insiders said.

FILE PHOTO: A man wearing a protective mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a new coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. REUTERS/Aly Song/File Photo

Semiconductor Manufacturing International Corp (SMIC) (0981.HK) has found itself in the slipstream of a government drive to develop an independent chip industry. Its Hong Kong stock price has surged three-fold since March as investors bought into sentiment accompanying its listing plans.

Its second-biggest shareholder, the state-backed China Integrated Circuit Industry Investor Fund, signed up as the largest strategic investor of the offering which, by Monday

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UK minister on Trump’s Huawei remark: ‘We all know Trump don’t we’

FILE PHOTO: Britain’s Health Secretary Matt Hancock speaks during the daily COVID-19 briefing at 10 Downing Street in London, Britain June 22, 2020. Andrew Parsons/10 Downing Street/Handout via REUTERS

LONDON (Reuters) – A senior British minister on Wednesday denied that U.S. President Donald Trump was responsible for Britain’s 5G ban on Huawei, saying the decision was a considered one despite attempts by some individuals to claim credit.

Britain announced on Tuesday it would purge Huawei equipment from 5G by the end of 2027, with Trump saying hours later that: “We convinced many countries, many countries, I did this myself for the most part, not to use Huawei, because we think it is an unsafe security risk, it’s a big security risk.”

Asked about the remark, British Health Secretary Matt Hancock told Sky News: “Well we all know Donald Trump don’t we.”

“All sorts of people can try to claim credit

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Over 2,500 games removed from Apple’s China App Store after loophole shuts: data firm

FILE PHOTO: People wearing face masks walk in front of an Apple store at a shopping mall in Beijing, China February 18, 2020. REUTERS/Carlos Garcia Rawlins/File Photo

HONG KONG (Reuters) – More than 2,500 mobile games were removed from Apple’s China app store in the first week of July, four times as many in the same period in June, after Apple closed a loophole to comply with Chinese licence requirements, data from SensorTower showed.

Apple had given publishers of revenue-generating games a deadline of end-June to submit a government-issued licence number that allows them to make in-app purchases, a requirement that Android-based app stores in China have long had. It was not clear why Apple had allowed the loophole to exist for so long.

Notable games removed from China’s App Store in July so far include Supercell’s farming hit “Hay Day”, “Nonstop Chuck Norris” from Flaregames and “Solitaire” from Zynga,

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Tesla secures tax breaks for cybertruck factory in Texas

(Reuters) – A central Texas county that includes Austin on Tuesday approved a plan to provide millions in tax subsidies to Tesla Inc (TSLA.O) if it builds a $1.1 billion vehicle factory in the area.

FILE PHOTO: A Tesla car is seen in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson

The decision marks a step forward for Texas as it vies with Oklahoma to attract a new factory to build Tesla’s Y sport utility vehicles and cybertrucks.

A majority of commissioners in Travis County voted in favor of providing the electric carmaker with a tax rebate worth at least $14.7 million.

That brings the total amount of tax rebates to nearly $65 million after the Del Valle school district, which includes the proposed factory site, approved a $50 million incentive on Thursday.

Tesla did not immediately respond to a request for comment.

The electric carmaker only

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