China has spent 3.6 times more than the US on chipmaking subsidies over the past decade — $142 billion and counting, easily outweighs CHIPS Act

China has outspent the US in chipmaking subsidies by 3.6 times over the past decade, totaling $142 billion compared to $39 billion in the US. This spending has positioned China as a major player in the global tech landscape, but the report suggests that other governments need to respond strategically to mitigate potential risks. Despite China's significant investments, the report argues that they have not achieved a breakthrough in leading-edge chip technology, with US-based companies still dominating global semiconductor shipments. The report also highlights the challenges Chinese firms face in catching up with advanced technologies due to factors like R&D intensity and access to crucial tools.