China ramps up self-sufficiency efforts with 30 billion Yuan in semiconductor investment

The Chinese province of Guangdong is reportedly planning to invest $4.37 billion in the semiconductor industry over the next seventeen years. The investment is part of a broader effort to increase China’s self-sufficiency in the production of semiconductors, which are used in a range of electronic devices, including smartphones, computers, and cars. 

The funds will reportedly be used to support the development of new chip factories, as well as research and development efforts in the semiconductor industry. The move comes amid growing concerns over China’s reliance on foreign technology, particularly in the wake of US sanctions that have targeted Chinese tech companies. 

Guangdong is already home to a number of major semiconductor manufacturers, including Huawei’s HiSilicon and the state-backed Semiconductor Manufacturing International Corporation (SMIC). However, China still lags behind the US and other countries in the production of cutting-edge semiconductors, and the country has been investing heavily in its semiconductor industry in recent years in an effort to catch up.