US-China tech war: China’s investment binge on chip sector unabated as US commerce secretary urges lawmakers to approve funds for similar purpose

Source: China – South China Morning PostInvestors from China’s public and private sector are pouring money into the country’s semiconductor industry in a bid to deliver on Beijing’s goal of self sufficiency, while the US commerce secretary has urged American lawmakers to quickly approve funding for its own semiconductor industry.During the first five months of this year, 164 Chinese firms in the chip sector received 40 billion yuan (US$6.2 billion) of private equity investment, an amount close to the full-year figure for 2020,…Read More

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