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China as an Innovation Nation$
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Yu Zhou, William Lazonick, and Yifei Sun

Print publication date: 2016

Print ISBN-13: 9780198753568

Published to Oxford Scholarship Online: March 2016

DOI: 10.1093/acprof:oso/9780198753568.001.0001

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State, Market, and Business Enterprise

State, Market, and Business Enterprise

Development of the Chinese Integrated Circuit Foundries

(p.192) 7 State, Market, and Business Enterprise
China as an Innovation Nation

Yin Li

Oxford University Press

China has the potential to become a strong competitor in the global integrated circuits (IC) industry due to the size of its market and support from the state. This chapter analyzes the models to develop major Chinese IC foundries since the 1980s, including technology transfers from abroad, international joint ventures, and autonomous non-state firms. This chapter shows, while the Chinese IC industry is still in catch-up stage, it is not because of lacking government support or market attraction. Chinese state-owned companies and joint ventures, while favored by the state, failed in innovation and competition because of lacking strategic control. The non-state foundries were more successful as autonomous business enterprises to transform access to global sources of talents, technology, and capital into local technological and productive capabilities. However, further growth and catch-up of non-state foundries were hindered by the localized, fragmented industrial financing scheme in China.

Keywords:   semiconductor industry, integrated circuits, state-owned enterprise, international joint-venture, non-state companies, technology transfer, returnee industrial finance

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