Troubled chip maker in Wuhan taken over by local government in setback for China's pursuit for chip self-reliance

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A semiconductor startup based in Wuhan has been taken over by the local government amid funding shortages, in a setback for China’s efforts to achieve self-reliance in chip supplies amid intensifying US export controls.

Wuhan Hongxin Semiconductor Manufacturing Company (HSMC) has been taken over by the municipal government in the central Chinese province of Hubei, showed the latest corporate registration records compiled by Chinese business information site Tianyancha.

The latest development comes after months of delays in the construction of the company's $20 billion semiconductor manufacturing plant due to the impact of . . .

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