China is actively pursuing strategies to strengthen its domestic semiconductor industry amid escalating tensions with the United States over technology and trade. The Chinese government is raising $27 billion in a chip fund aimed at bolstering advanced chip production and reducing reliance on Western technology, specifically in response to US export restrictions. This move is part of a broader effort to support domestic chip production and minimize dependency on foreign imports, including encouraging its electric vehicle (EV) manufacturers, such as BYD and Geely, to significantly increase their purchases from local auto chipmakers. In a related development, a Japanese state-backed investment fund is proceeding with a $6 billion buyout of chipmaking materials company JSR, having secured China's approval for the deal. This acquisition is viewed by Tokyo as vital to its semiconductor ambitions, indicating a regional push towards self-reliance in semiconductor production.
Sources: China quietly asks EV makers like BYD and Geely to sharply increase their purchases from local chipmakers, to reduce reliance on Western imports (Bloomberg) https://t.co/S6ciWfrjLV 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/AZrqYqrIoM
SCOOP: The Chinese government has quietly asked EV makers from BYD to Geely to sharply increase their purchases from local auto chipmakers, part of a campaign to reduce reliance on Western imports w/ @GaoYuan86 @ChunyingZhang @debbywuintaipei @gablova https://t.co/HeCYicOumD
The Chinese government has quietly asked EV makers from BYD to Geely to sharply increase purchases from local auto chipmakers, part of a campaign to reduce reliance on Western imports & boost China’s domestic semiconductor industry, per @business scoop. https://t.co/S26MmInUGK
Global News | China urges EV makers to buy local chips as US clash escalates (Agencies) https://t.co/pSvjnEWMAo
The Chinese government has quietly asked electric-vehicle makers from BYD to Geely to sharply increase their purchases from local auto chipmakers, part of a campaign to reduce reliance on Western imports https://t.co/dxgAjQOWne
🇨🇳🇺🇸#China urges domestic EV makers to buy local chips as US clash escalates.-Bloomberg
CHINA URGES EV MAKERS TO BUY LOCAL CHIPS AS UNITED STATES CLASH ESCALATES
A Japanese state-backed investment fund is going ahead with its $6 billion buyout of chipmaking materials linchpin JSR, after securing assurances of China’s approval for a deal that Tokyo sees as central to its semiconductor ambitions. https://t.co/cKUSIW8OUX
China is raising $27B in a chip fund to help bolster its domestic semiconductor industry and advanced chip production in light of US export restrictions.