China readying $143bn package for chip firms in face of US curbs
Al JazeeraMAY 2023
As Beijing looks to combat the US's semiconductor trade war, Zhou tried to take advantage of the growing industry and his state-backed company's profits. There is no room for such selfish corruption as this at a time when the nation is looking to defend itself economically and technologically against the encroaching western threats of sanctions and boycotts.
As it can no longer rely on technology produced in the US, China is now discovering that throwing money at the chip industry will not be enough to rival the semiconductor production of its western counterparts. While these could be cases of legitimate corruption deserving of prosecution, the significant possibility that these executives simply fell out of Pres. Xi's favor as Beijing continues to flounder over the problem of chip production cannot be ignored.