Chinese Electronics Firm Gree Sets Up $1B Unit To Expand To Semiconductor Sector

Chips, once an industry shunned by entrepreneurs and businesses in China because of its high technology barrier, is now attracting companies from all sectors as China strives to lessen reliance on imported chips. The latest is Zhuhai, Gunagdong Province-based Gree Electric, a Chinese appliance manufacturer, who has set up a new unit to expand to the semiconductor space. The new firm, Zhuhai Zero Border Integrated Circuit Co. Ltd., was established with a registered capital of RMB1 billion (US$150 million), according …

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