China state funds double down on Hua Hong in legacy chip push
Chinese state funds are ramping up support for the countryโs second-largest contract chipmaker, pouring billions of yuan into the parent of Hua Hong Grace Semiconductor and a new manufacturing facility to fuel Beijingโs drive for self-reliance in mature-node chips. The capital blitz, spanning Hua Hongโs Shanghai-based parent company and a fabrication plant in Wuxi, highlights how government-coordinated financing is doubling down on domestic foundries, as Washington tightens technology...