Leading Chinese semiconductor maker SMIC announced on Wednesday that it will donate RMB 10 million ($1.6 million) to the city of Shanghai as it battles a major Covid outbreak. The eastern Chinese financial hub has seen rapidly rising case numbers of the Omicron variant in recent weeks and has implemented a city-wide lockdown. Shanghai-based semiconductor businesses such as SMIC and TSMC have said that they won’t stop production despite the measures and even though the neighboring city of Kunshan has shut down dozens of semiconductor-related firms due to the outbreak. [SMIC, press release]
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