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China tech

China chipmaker SMIC receives $2bn state help amid Huawei ban

US sanctions accelerate Beijing's drive toward technological self-sufficiency

Tougher U.S. sanctions mean that China relies more on local player Semiconductor Manufacturing International Corp. (Photo courtesy of SMIC)

BEIJING/TAIPEI -- China's Semiconductor Manufacturing International Corp. will receive a $2.25 billion infusion from state investment funds to underwrite the development and production of chips intended to counter new sanctions levied by the U.S.

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