China’s grand ambitions in innovat • Table.Briefings

Business representatives frequently accuse the Chinese government of unfairly supporting its domestic companies. And indeed, there are some high-profile cases. But China’s subsidies in the field of research and development hardly have any positive effects. The framework conditions for innovation also leave much to be desired. But Beijing is taking great efforts to make its economy more innovative.

It was supposed to be a big breakthrough and bring China’s chip industry closer to the top of the world. But after numerous grand announcements, the euphoria ended in bankruptcy. In the end, employees were even laid off without compensation: The company Wuhan Hongxin Semiconductor Manufacturing (HSMC) is one of the most glittering cases of waste of state subsidies in China.

China’s grand ambitions in innovation and research

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