The chief of one of the world’s biggest chip equipment-makers, ASML, said isolating China completely will ‘force’ the country to ramp up innovation

State media said the investment was a clear sign of Beijing's push to end the country's reliance on foreign semiconductor firms

The development follows sanctions-hit Huawei's success in building an advanced 7-nanometer processor, in collaboration with state-backed SMIC

The 100-million-people country has only 5,000 to 6,000 trained hardware engineers for the chip sector, against expected demand of 20,000 in five years

The company said it will continue to ship the products in its NXT:2000i and more advanced DUV models, which fell under the restrictions that started on Friday

If true, the development of a homegrown 5G chip would mark a win for China's local semiconductor sector, which has seen stock market gains of roughly 8% so far this week

TSMC has previously blamed a "lack" of skilled workers for the slow pace of the fab's construction and also lobbied to bring more Taiwanese workers to help finish work the site

The landmark deal, signed when Beijing and Washington established diplomatic ties in 1979, needs to be renewed about every five years and is currently set to expire later this week

The more than 300-page document mentioned "PRC" 130 times and "China" 222 times, as it outlined risks and uncertainties emanating from the ongoing chip war between Beijing and the West

Recent net selling of Chinese equities was the largest over any 10-day period since October 2022 and one of the steepest moves in the past five years

Two sources said briefings were expected on Monday, with the announcement on Tuesday, while a former official said the US should be prepared for retaliation by Beijing

SMEE, China’s only potential competitor to the Netherlands' world-leading lithography machine maker ASML, is expected to deliver the country's first 28nm lithography machine