This chapter examines China’s industrial policy in integrated circuit fabrication and contrasts it with the hybrid and MNC firms that have set up fabs (fabrication facilities) in China. From the 1990s onward, China has had an active industrial policy to promote SOEs, such as Huajing and Huahong, but these efforts have by and large failed to propel China’s development in IC fabrication. In contrast, first CSMC and then SMIC have pushed China’s fabrication technology closer to the international technology frontier. Both CSMC and SMIC are hybrids. The MNCs have since followed the lead of the hybrids to China, but they utilize far from their best technology in China and their fabs lag behind SMIC’s process technology.
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