Over the last decade, the state-backed company made a series of acquisitions and emerged as one of China’s leading chipmakers. China’s anti-fraud watchdog has accused chip tycoon Zhao Weiguo of corruption, in the latest sign of trouble faced by the country’s semiconductor industry. Semiconductors, which power everything from mobile phones to military hardware, are at the centre of a bitter dispute between the US and China. China has invested billions of dollars in recent years to build up its domestic chip-making capabilities. Will the cheap war between US-China end ?

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