Caixin
Aug 30, 2022 08:38 PM
BUSINESS

Caixin Explains: Washington’s Drive to Hobble Chinese Chipmaking

The CHIPS and Science Act of 2022 was signed by U.S. President Joe Biden on Aug. 9. Photo: VCG
The CHIPS and Science Act of 2022 was signed by U.S. President Joe Biden on Aug. 9. Photo: VCG

Promoting the semiconductor industry is a key priority for Beijing.

Microchips are among the seven “core technologies” the country aspires to master, according to a 2021 economic blueprint. The scandal-struck “Big Fund” set up to invest in the industry has sucked up more than 300 billion yuan since 2014.

But a massive U.S. semiconductor subsidy program that became law earlier this month will further complicate China’s efforts.

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