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Top China chipmaker gets state funds for US$2.4b plant in 1st for tech masterplan

Sumary of Top China chipmaker gets state funds for US$2.4b plant in 1st for tech masterplan:

  • BEIJING (BLOOMBERG) – Semiconductor Manufacturing International Corp (SMIC) will build a US$2.35 billion (S$3.15 billion) plant with funding from the government of Shenzhen, the first major project to emerge from China’s masterplan to match the US and become more self-reliant as global chip supply dwindles…
  • SMIC on Thursday (March 18) warned that shortages could worsen this year and next and wallop Chinese businesses if the country doesn’t ramp up domestic capacity now…
  • China wants to build a coterie of technology giants that can stand shoulder-to-shoulder with Intel and Taiwan Semiconductor Manufacturing Co…
  • While specifics of that endeavor won’t emerge for months, Premier Li Keqiang has pledged to boost spending and drive research into cutting-edge chips in the country’s latest five-year targets, laying out a technological blueprint to vie for global influence with the US…
  • “The shortage in chip manufacturing capacity is very real and the situation could deteriorate in 2021 and 2022 if Chinese companies don’t speed up expansion,”..
  • Beijing is moving swiftly to cut a dependence on the West for crucial components like chips, an issue that became more urgent after a global shortage of semiconductors worsened during the pandemic…
  • Washington has also blacklisted major Chinese tech firms including SMIC, cutting it off from American technology while severely impairing its ability to procure the chipmaking gear it needs….

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