CHINA TOPIX

China’s Tsinghua Holdings to Invest $7.5 billion in Research and Development Over Next 5 Years

Girish Shetti   |

Jun 27, 2016 09:17 AM EDT

Xu Jinghong, chairman of Tsinghua Holdings, has said the Chinese state-owned technology company plans to invest $7.5 billion in research and development (R&D) over the next five years. A substantial part of this R&D fund will go to the chip-making division of Tsinghua Unigroup. The move comes as China aims to compete with global chip makers.