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What's left in China's former field of chip dreams

$19bn showcase HSMC stops construction and offers severance but not closed yet

The air of uncertainty lying over Hongxin Semiconductor Manufacturing Co. is a far cry from the high hopes that many had for the project at its inception in 2017.   © Reuters

Located in an industrial park outside the city of Wuhan, Hongxin Semiconductor Manufacturing Co. (HSMC) was meant to become a $19.8 billion showcase and central plank in China's plans to create a homegrown microchip industry capable of challenging the West.

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