News Summary

• ByteDance and Tencent have each received about 10,000 of the processors in recent weeks.
• The volumes are small against what was once on the table.
• Beijing has instructed companies to keep the hardware outside mainland China in order to protect its domestic chipmakers.
• regulators are letting firms route processors to Hong Kong instead, which sits outside the mainland’s customs border.
• Hong Kong already handles more than half of China's chip imports, some $124bn worth between January and May, which makes it the natural place to warehouse silicon.