Huawei’s planned event comes on the heels of Apple’s iPhone 15 launch event held on Tuesday, which received mixed reactions in China

Gotion will be eligible to receive US tax benefits totalling $213 million over 30 years and also get $125 million in capital funding from Illinois

Senior executives from chipmakers including Intel, GlobalFoundries, Amkor and Marvell are expected to attend a business meeting on Monday in Hanoi

The sweeping deal aims to link South Asia and the Middle East to help the flow of energy and trade from the Gulf to Europe

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

The yuan is one of region's worst performing currencies and has depreciated about 6.1% against the US dollar so far this year

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

In interviews broadcast on Sunday, the US commerce secretary said China's economy did better when it was more transparent and market-oriented

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

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

The US commerce secretary said she would tell Chinese officials, "when it comes to national security we don't negotiate. We don't give concessions. We don't compromise"