China's Chip Industry Surges with Advancements in Fabrication Technology

Chinese chipmaking machine suppliers, including Shanghai Micro Electronics Equipment Group, saw a surge in stock prices after reports of a significant technological breakthrough by a state-backed firm. The breakthrough raises hopes that China can reduce its reliance on US semiconductor techniques. The Shanghai firm is working on delivering its first system based on 28-nanometer technology, a crucial component for making silicon used in various products. China has been pushing for the development of local technologies in strategic sectors, including chipmaking, to counter US restrictions. However, it remains uncertain if the Shanghai firm can produce these machines in large quantities.