China's lofty ambitions for its microchip industry have taken a battering in recent months.
Beijing's dreams of becoming an international player in the sector were fuelled by expensive acquisitions abroad, but since US President Donald Trump took office, the powerful Committee on Foreign Investment in the United States has killed off one major proposed deal.
Worse was to follow as Chinese chipmaker ZTE found itself in the crosshairs of US regulators as Trump stepped up his trade war with Beijing. And all of this comes at a time when China cannot afford to fall further behind in chip development for fear that its mega...
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