China's state-backed technology powerhouse, Tsinghua Holdings is to spend $7.5bn on research and development over January 21, 2016 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.
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.