US Considers Ending Semiconductor Exemptions for China FactoriesUS Considers Ending Semiconductor Exemptions for China FactoriesThe U.S. Department of Commerce’s Bureau of Industry and Security (BIS) is planning to revoke "blanket exemptions" that allow TSMC, Samsung Electronics, and SK Hynix to use American technology in their Chinese mainland facilities without prior approval, The Wall Street Journal reported on June 20. If implemented, the move would force these companies to apply for individual licenses for U.S.-made semiconductor equipment shipments to China, with approval processes potentially dragging on for months and disrupting production upgrades and capacity expansion .
China, Hong Kong Launch Cross-Border Payment Connect SystemChina, Hong Kong Launch Cross-Border Payment Connect SystemChina’s central bank and Hong Kong’s monetary authority launched "Payment Connect" on June 22, linking mainland China’s Online Interbank Payment Clearing System (IBPS) with Hong Kong’s Faster Payment System (FPS) to enable real-time cross-border remittances. The initiative, announced in a joint statement on June 20, aims to streamline cross-border transactions for residents in both regions.
