China looks to foreign companies to end chip dependence
 

Speed up development to cut US dependence

It looks like Donald (Prince of Orange) Trump's trade war is going to force the Chinese to speed up its chip development programme to end its dependence on US companies quicker.

China is looking for billions of dollars in funds to propel its domestic ambitions in chips to cut a heavy reliance on imports and has invited overseas investors to help it get there.

The country’s industry ministry said it welcomed foreign enterprises to invest in its top state-backed semiconductor fund.

China’s National Integrated Circuit Investment Fund is now putting together a second fund to support the sector, a Ministry of Industry and Information Technology (MIIT) official said.

“We welcome foreign enterprises to participate”, MIIT spokesman Chen Yin said at a press conference in Beijing.

The fund, which raised about $22 billion previously, has been a target for US politicians concerned that Chinese firms, flush with state money, could challenge US chip giants like Qualcomm for whom China is a key market.

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