China's chip champion SMIC appoints new chairman amid intensifying US scrutiny

www.scmp.com, Mar. 21, 2022 – 

• SMIC, the world's fifth largest wafer foundry, appointed its chief financial officer Gao Yonggang as the new chairman of the board
• On the same day, China hawk and US Senator Marco Rubio urged the Department of Commerce to impose further trade restrictions on the company

Semiconductor Manufacturing International Corp (SMIC), seen as China's best chance to achieve self-sufficiency in chips, has appointed a new chairman as it faces greater scrutiny from Washington and calls by some US lawmakers for tighter trade sanctions.

SMIC, listed on both the Shanghai and Hong Kong stock exchanges, appointed its chief financial officer Gao Yonggang as the new chairman of the board. Gao, who has been SMIC's CFO since 2014, was named acting chairman last September after Zhou Zixue, who had served as chairman since 2015, resigned due to "health reasons".

Mainland China's biggest chip maker, SMIC is ranked as the world's fifth-largest wafer foundry after Taiwan Semiconductor Manufacturing Co (TSMC), South Korea's Samsung Electronics, Taiwan-based United Microelectronics Corp, and GlobalFoundries of the US, according to market intelligence firm TrendForce.

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