The state of China's decade-long semiconductor push: still a decade behind, despite hundreds of billions spent and significant progress — examining the original 'Made in China 2025' initiative

China's semiconductor industry, despite significant investment and progress over the past decade, still lags behind global leaders. The 'Made in China 2025' initiative aimed for 70% self-sufficiency in semiconductors by 2025, but China remains far from this goal. The country has made strides in chip design, with companies like Huawei and Biren producing competitive products. However, in semiconductor manufacturing, China has built numerous fabs but struggles with leading-edge process technologies. While Chinese companies have made advancements in fab tools, they still face challenges in lithography and inspection equipment, hindering further progress.