Technology
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This is the best summary I could come up with:
China is doubling down on its plan to dominate advanced technologies of the future by setting up its largest-ever semiconductor state investment fund, according to information posted by a government-run agency.
In 2022, the country’s anti-graft watchdog launched a crackdown on the semiconductor industry, investigating some of China’s top figures in state-owned chip companies.
Lu Jun, former chief executive of Sino IC Capital, which managed the “Big Fund,” was probed and indicted on bribery charges in March, according to a statement by the country’s top prosecutor.
In October 2022, the US unveiled a sweeping set of export controls that ban Chinese companies from buying advanced chips and chip-making equipment without a license.
The new chip fund is not only a defensive move to counter Western sanctions, but also part of Xi’s long-held ambitions to make China a global leader in technology.
In a meeting with the Dutch Prime Minister Mark Rutte in March, Xi said that “no force can stop China’s scientific and technological development.”
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