Synopsis
Tsinghua Unigroup’s flagging financial fortunes are an uncomfortable failure for Chinese officials, who sought to use state-guided funds and plans to pull even with the United States in an ever more pugnacious competition over the future of technology.
Reuters
Tsinghua Unigroup is a subsidiary of a company controlled by China’s prestigious Tsinghua University, the alma mater of President Xi Jinping. (In pic: Logo of Tsinghua Unigroup)
In 2015, an obscure company run by a real estate mogul woke the world to China’s ambitions in semiconductors, the foundational technology that powers computing. Laden with state funding and political backing, the company made jaws drop with a $23 billion bid to buy the American chipmaker Micron.
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