SMIC builds large chip factory near Shanghai

The Chinese semiconductor manufacturer Semiconductor Manufacturing International Corp. (SMIC) is investing around seven and a half billion euros in a new site near Shanghai. This is the company’s response to global supply bottlenecks, which are also causing assembly lines in German industry to come to a standstill. The project partner is the Lingang Free Trade Zone (FTZ) in Pudong. SMIC, in turn, is financing the expansion in part from a state subsidy fund for the semiconductor industry.