China Big Chip Shortage: Car factories shut down/100 billion fraud followed by the 10 billion one

Recently, there has been a global shortage of semiconductors, computer chips, as well as price hikes. As the world's second-largest economy, China is especially affected. At the moment, Beijing has not yet seen any hope of chip self-sufficiency. A report released by the business consulting platform EqualOcean Intelligence said that China's chip market size in 2020 exceeded $140 billion. Companies in mainland China had a chip manufacturing output of only $8.3 billion the same year, meeting only 5.8% domestic demand.In early June, Chinese media reported that driven by a "chip shortage," some Chinese automaker executives took turns squatting in front of chipmakers to get their hands on newly produced chips.
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