Chip shortage: SMIC wants to double production

Chinese semiconductor manufacturer SMIC plans to double production of microchips over the next three years, company CEO Zhao Haijun told investors on Friday. This will make China somewhat less dependent on imports and simultaneously relieve the pressure on the market as a whole. To this end, sites in Beijing, Shanghai, and Shenzhen are to be greatly expanded. The aim is to build up a „regional supply chain“.