Daily News

Report: Former Chinese execs launch VC firm to ease reliance on U.S. tech

September 11, 2020
A group including former executives from Chinese telecommunications giant Huawei and the country’s largest semiconductor manufacturer is launching a “ domestic replacement fund ” to invest in tech startups that could help China end its reliance on the U.S., and to support companies hit by U.S. sanctions, according to Reuters. China Europe Capital, headed by former Huawei Vice President Zhang Jun, hopes to tip the scales in the race between the U.S. and China for technological superiority. “China and the...

Not a subscriber? Sign up for 30 days free access to exclusive, behind-the-scenes reporting on the trade relations with China and the changes being made by the Trump administration.