For years, China’s race with the US for global tech supremacy has been a boon for its chip industry.
Rapid advances in artificial intelligence, a growing domestic consumer technology market, supercomputer programmes and a rapid military build-up have all fuelled demand for semiconductors. This has intensified an urgency to make more of the chips domestically.
Over the past decade, Beijing poured more than $100bn in subsidies into enterprises such as Shanghai-based Semiconductor Manufacturing International Corporation. As a result, SMIC and its peers built new fabrication capacity faster than chipmakers anywhere else in the world, and their revenues ballooned to Rmb756bn last year, up from Rmb144bn 10 years ago.
您已阅读16%（718字），剩余84%（3700字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。