China Launching $40 Billion State Fund for Local Chip Industry as Huawei Releases Groundbreaking Smartphone

Elvis Dunderhoff September 5, 2023

This is not something you’d be doing if you were planning to invade Taiwan, is it now?

Reuters:

China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, as the country ramps up efforts to catch up with the U.S. and other rivals.

It is likely to be the biggest of three funds launched by the China Integrated Circuit Industry Investment Fund, also known as the Big Fund.

Its target of 300 billion yuan ($41 billion) outdoes similar funds in 2014 and 2019, which according to government reports, raised 138.7 billion yuan and 200 billion yuan respectively.

One main area of investment will be equipment for chip manufacturing, said one of the two people and a third person familiar with the matter.

President Xi Jinping has long stressed the need for China to achieve self-sufficiency in semiconductors. That need has become all the more pressing after Washington imposed a series of export control measures over the last couple of years, citing fears that Beijing could use advanced chips to boost its military capabilities.

In October, the U.S. rolled out a sweeping sanctions package that cut China’s access to advanced chipmaking equipment and U.S. allies Japan and the Netherlands have taken similar steps.

They are ahead of the US on chip independence.

They are also making better phones than the US.

Reuters:

Huawei Technologies and China’s top chipmaker SMIC have built an advanced 7-nanometer processor to power its latest smartphone, according to a teardown report by analysis firm TechInsights.

Huawei’s Mate 60 Pro is powered by a new Kirin 9000s chip that was made in China by Semiconductor Manufacturing International Corp (SMIC), TechInsights said in the report shared with Reuters on Monday.

Huawei started selling its Mate 60 Pro phone last week. The specifications provided advertised its ability to make satellite calls, but offered no information on the power of the chipset inside.

The processor is the first to utilize SMIC’s most advanced 7nm technology and suggests the Chinese government is making some headway in attempts to build a domestic chip ecosystem, the research firm said.

Buyers of the phone in China have been posting tear-down videos and sharing speed tests on social media that suggest the Mate 60 Pro is capable of download speeds exceeding those of top line 5G phones.

The phone’s launch sent Chinese social media users and state media into a frenzy, with some noting it coincided with a visit by U.S. Commerce Secretary Gina Raimondo.

So, this is pretty relevant.

Chinese now look down upon the iPhone, and they are over 20% of the world’s population and probably around 50% of the people who are going to pay $1,200+ for a phone. So this is seriously, seriously cutting into Apple’s business. I mean, it’s already potentially cutting Apple’s high end customer base in half, and this trend is only going to continue as more countries start to despise American products as symbols of neo-colonialism (gay anal).

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