China's state-backed technology powerhouse, Tsinghua Holdings is to spend $7.5bn on research and development over the next five years to build itself up to become the world's No. two chipmaker after Intel Corp and Samsung Electronics. Tsinghua's President, Xu Jinghong, also warned that China has been too slow to reform its economy, and must move faster to promote high-margin technology operations rather than manufacturing.
China's state-backed technology powerhouse, Tsinghua Holdings is to spend $7.5bn on research and development over the next five years to build itself up to become the world's No. 3 chipmaker after Intel Corp and Samsung Electronics. Tsinghua's President, Xu Jinghong, also warned that China has been too slow to reform its economy, and must move faster to promote high-margin technology operations rather than manufacturing.