Stefan Mileschin

The Chinese government appears to be keen to create its own chipmaking giant to battle Chipzilla and the Taiwanese and Japanese monsters.

Tongfang Guoxin Electronics which is part of the government backed Tsinghua Unigroup, has announced a planned $12.59 billion private placement project, a step toward building itself as a semiconductor giant in China.

The money being raised is four times Tongfang Guoxin's market value when its shares were suspended for trading in October.

http://fudzilla.com/news/processors/...-on-chipmaking