Richard Chang, chief executive of NASDAQ- and Hong Kong-listed Semiconductor Manufacturing International Corp (SMIC), dismissed threats of a US$750,000 fine and imprisonment on Taiwan for allegedly breaking the island's cross-strait investment regulations. Chang, a Taiwan-born naturalized US citizen, called the charge made by Taiwan's Investment Commission harassment. Although Taiwan investors are free to buy SMIC's publicly traded shares, chip investment on the mainland is regulated and closely watched. The island's Hsinchu-based chip giants, Taiwan Semiconductor Manufacturing Co and United Micro Electronics (UMC), dominate global foundry, or contract, chipmaking services. With more electronics shifting to the mainland, China's more recently established foundries ultimately threaten their leadership.