US lawmakers were already looking to cut SMIC off from US tech imports after it produced the surprisingly high-end chip for Huawei’s latest handset

Experts say that SMIC’s South fab is the only factory with the capability to make the Mate 60's 7 nanometer chip

Local governments in Shanghai and Anhui will fund a variety of semiconductor-related projects this year — ranging from the development of DRAM chips to building facilities for chipmaking and its tools

Shares in the company have dropped 18% over the last month as chipmakers continue to struggle to gain traction after last year’s slump

The 5nm tech will be used to produce chips for Huawei's new smartphones, and, if successful, could also be used for its AI chips