State-backed Chinese technology group Tsinghua Holdings plans to spend $7.5 billion on research and development over the next five years, accelerating China’s drive to build a high-value semiconductor industry to challenge global chipmaking rivals.
As the firm that controls acquisitive chip supplier Tsinghua Unigroup outlined the target, its chairman, Xu Jinghong, also said China has been too slow to reform its economy, and must move faster to promote high-margin tech operations rather than cheap manufacturing.
