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Corruption is sending shock waves through China’s chipmaking industry
- rasz 4y agoWhy: https://www.theregister.com/2022/04/05/beijing_bails_out_tsinghua_unigroup/ https://www.theregister.com/2022/04/05/beijing_bails_out_tsi... https://www.chinatalk.media/p/billion-dollar-heist-how-scammers https://www.chinatalk.media/p/billion-dollar-heist-how-scamm... https://interconnected.blog/chinas-semiconductor-theranos-hsmc/ https://interconnected.blog/chinas-semiconductor-theranos-hs... at least the last one, while full on scam, scored China some forbidden ASML gear. >Chiang also used his industry reputation to convince ASML, the Dutch company and world’s leading manufacturer of lithography equipment, to sell one DUV equipment to HSMC. (DUV is not the most advanced equipment, but this is still a huge coup given heavy US pressure at the time on the Dutch government to not sell to China.) >By December 2019, the ASML equipment was delivered to HSMC amidst huge fanfare. The company also secured more investment due to this accomplishment from the district government, totaling 15.3 billion RMB (~$2.4 billion USD). >One month later, the same equipment was offered as collateral to a local Wuhan commercial bank for a 580 million RMB loan (~$90 million USD) -- another new source of “income” for the heist. The only way this investigation will have any effect in China is if at the end a couple of high ranking executives are executed (pardon the pun).