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