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Tsinghua Leads Creation of $2.8 Billion Chinese Chip Giant

  • New company will be one of the country’s largest chipmakers
  • Tsinghua chairman Zhao Weiguo will head up the new entity
Updated on

Tsinghua Unigroup Ltd. merged its memory chip-making operations with Chinese government-run XMC’s, creating a $2.8 billion company to spearhead the country’s effort to become a global semiconductor player.

The company is folding XMC, also known as Wuhan Xinxin Semiconductor Manufacturing Corp., into its growing portfolio of assets and consolidating their production capacity, Tsinghua’s billionaire chairman Zhao Weiguo said via e-mail. The newly merged entity is called Changjiang Storage Co. and has a registered capital of 18.9 billion yuan ($2.8 billion), according to a website operated by the State Administration for Industry and Commerce.