US Sanctions Bite as China’s Largest Chipmaker Replaces Chairman for Second Time in Two Years

A logo of state-controlled Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo in a file photo. Aly Song/Reuters

China’s largest chipmaker, Semiconductor Manufacturing International Corporation (SMIC), announced the appointment of its new chairman on July 17.

Vice chairman Liu Xunfeng replaced former chairman Gao Yonggang, who the company said had resigned due to “work adjustment.” SMIC did not offer any further explanation in it’s statement to the Hong Kong Stock Exchange.