Published: 3:15pm, 24 Aug, 2018 Updated: 11:24pm, 24 Aug, 2018
China needs to address its dependence on US semiconductors , after the forced shutdown of ZTE in April , according to dong Wenwu , president of the National Integrated Circuit Industry Investment Fund . China makes over 90 % of the world 's smartphones but has to sell many of the technologies that go into such devices and , earlier this year , a US export ban crippled the Chinese telecoms equipment maker ZTE . Ding said the fund , known as The Big fund , will work with investors to address shortcomings and close the technology gap .