China's semiconductor manufacturing industry is in trouble due to lack of funds
The
China's semiconductor drive stalls in Wuhan, exposing gap in hi-tech production capabilities | South China Morning Post
https://www.scmp.com/economy/china-economy/article/3099100/chinas-semiconductor-drive-stalls-wuhan-exposing-gap-hi-tech
The construction project of the semiconductor manufacturing plant of Wuhan Hongxin Semiconductor Manufacturing (HSMC), a semiconductor foundry in Wuhan, China, started in 2018. The project was one of the most important of the $20 billion investment the company received. However, about two years after construction, in July 2020, the East-West Lake District Local Government of Wuhan, which invested $29 million (about 3.1 billion yen) for this project, said, 'The HSMC semiconductor manufacturing plant is partially Although it was completed, it stalled due to lack of funds. 'The company is unable to apply for a subsidy from the central government because of insufficient preparation to continue construction.' This report was later deleted.
According to the South China Morning Post, HSMC and the contractor who undertakes factory manufacturing are in heavy debt. Regarding the state of HSMC's semiconductor manufacturing plant, 'It is almost impossible to see construction going on, only a few crane cars and a dormitory for construction workers, leaving only steel frames protruding in the air' I will.
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'We didn't know about financial issues,' HSMC CEO Chiang Shang told the South China Morning Post. 'The government reports were all information I didn't understand. But I have no financial responsibility.'
HSMC is not the only Chinese company struggling with the semiconductor business. In early 2020, the US foundry giant Global Foundries and Chengdu local government spent 100 million dollars (about 11 billion yen) to build a semiconductor factory in the city, but it was decided to stop operations after about two years of suspension .. In July 2020, Tacoma Nanjing Semiconductor Technology's semiconductor factory, which was built in Nanjing with a $3 billion investment from the Chinese government, failed to attract investment and went bankrupt.
By Wuhan Hongxin Semiconductor Manufacturing
Regarding the Chinese semiconductor manufacturing struggle described above, the South China Morning Post said, ``While the technological war that is intensifying, China separated from American semiconductor technology is doubling its efforts to shake off its dependence on Western technology. The effort has been largely unsuccessful.'
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