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China is investing heavily in semiconductors and stepping up efforts to cultivate homegrown talent as it accelerates its quest for technological self-sufficiency amid a tech trade war with the U.S.
@lizalinwsj @raffaelehuang @ByXiaoXiao @DanStrumpf
https://on.wsj.com/2UyjKxn
@lizalinwsj @raffaelehuang @ByXiaoXiao @DanStrumpf
https://on.wsj.com/2UyjKxn
Chinese semiconductor companies have raised $38 billion this year—more than double last year’s total—while 50,000 Chinese companies have registered as chip companies this year, a record that is four times the total from five years ago. https://on.wsj.com/2UyjKxn
Some of China's newly-minted chip companies have only the most tenuous of ties to tech—real-estate developers, cement makers and restaurant businesses—mirroring investment binges in electric vehicles, real estate, peer-to-peer lending and solar panels. https://on.wsj.com/2UyjKxn
The frenzy of activity underscores concerns about China’s technological reliance on the West. “It’s about protecting the safety of your supply chain…You never know if you’ll be next on the U.S. blacklist.” https://on.wsj.com/2K7LWFm
Beijing has for decades spent billions to build a domestic chip industry. What’s different this time is the tech war. “There’s now a whole-of-society effort to cultivate domestic sources so that no firm can be crippled by unpredictable supply."
@danwwang https://on.wsj.com/2UyjKxn
@danwwang https://on.wsj.com/2UyjKxn
In Nanjing, a planned $3 billion chip project was halted after its backer was shut out from hoped-for subsidies and went bankrupt. The venture’s chairman in an interview called government policy a “double-edged sword” that often led to blind investments. https://on.wsj.com/2UyjKxn
