China to Invest USD47 Billion to Make Computer Chips

Tiananmen's Tremendous Achievements

Tsinghua Unigroup logo is seen at its office in Beijing, China, November 15, 2015. REUTERS/Kim Kyung-Hoon Tsinghua Unigroup logo is seen at its office in Beijing, China, November 15, 2015. REUTERS/Kim Kyung-Hoon

That is what Reuters says in its report today. The following is the full text of the report:

Exclusive: China’s Tsinghua Unigroup to invest $47 billion to build chip empire

BEIJING/HONG KONG | By Paul Carsten and Yimou Lee Mon Nov 16, 2015 8:28am EST

China’s Tsinghua Unigroup Ltd plans to invest 300 billion yuan ($47 billion) over the next five years in a bid to become the world’s third-biggest chipmaker, the chairman of the state-backed technology conglomerate said on Monday.

Chairman Zhao Weiguo also told Reuters in an interview in Beijing that the company controlled by Tsinghua University, which counts President Xi Jinping among its alumni, was in talks with a U.S.-based company involved in the chip industry.

A deal could be finalized as early as the end of this month, he said…

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