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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Bien Perez

Bien Perez

Bien has worked at the Post since 2000. He has served as Post Magazine's technology editor and Technology Post's deputy editor. He was a guest host on Tech Specs in TVB’s Money Magazine show. He won runner-up, Best News Writing, at the 2008 Hong Kong News Awards.