China has taken its biggest step toward creating a national champion in semiconductors with a planned $13 billion private placement by an affiliate of Tsinghua Unigroup Ltd. to build a chip plant and fund expansion. Raising cash will bankroll a move into the mainstream memory market for China given Taiwanese producers lack enough capital for expansion, Tsinghua Unigroup President Zhao Weiguo said in an e-mailed response to questions. Affiliates of state-backed Tsinghua University including Unigroup are becoming the vehicle for China to wean itself...
↧
