Chinese companies have spent around US$15 billion to acquire controlling or minority stakes in 10 semiconductor firms involved in key stages of the chip development process, reports claim. Photo: Shutterstock

China’s chip industry bolstered by acquisitions worth US$6.61 billion by government-backed fund

China, which produces over 90 per cent of the world’s smartphones, still relies heavily on imported chips, but China IC Industry Investment Fund is helping to develop the domestic industry

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Chinese companies have spent around US$15 billion to acquire controlling or minority stakes in 10 semiconductor firms involved in key stages of the chip development process, reports claim. Photo: Shutterstock
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