Beijing Seeks to Acquire US Tech by Enticing Silicon Valley Startups to Set Up in China

In China’s bid to acquire advanced technology from the United States, officials from the north-central city of Baoding tried to meet with Silicon Valley executives and discuss deals for companies to set up offices there, according to internal government documents that The Epoch Times obtained recently. Citing the Chinese regime’s key strategy of “bringing technologies in, exporting our products out,” the Baoding government detailed a successful example: it attracted AXT Inc., a U.S.-based designer and manufacturer of semiconductor substrates, to set up a factory in Dingxing county, Baoding. The semiconductor substrates are components for making electronic chips, which power nearly every electronic device. The Chinese regime has sought to accelerate the development of its domestic chipmaking industry, setting a goal of domestically producing 70 percent of its semiconductor needs by 2025, an objective under Beijing’s industrial policy of “Made in China 2025.” China’s chipmakers still lag behind global manufacturers despite …

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