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Both sides lose in US-China chipmaking split

Chinese companies like SMIC are raising money to survive American restrictions

| China
SMIC's fabrication plant in Shanghai, pictured in February 2011: China's deep reliance on foreign chips was never because of a lack of money.   © Corbis/Getty Images

Nina Xiang is the founder of China Money Network, a media platform tracking China's venture and tech sectors.

When China's leading chipmaker, Semiconductor Manufacturing International Corp., or SMIC, raised 53 billion yuan ($7.6 billion) in its Shanghai stock market listing last week, it injected new hope into the country's pursuit of a self-sufficient chip industry.

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