China's Tsinghua Unigroup to invest 300b yuan over next five years

Hong Kong

CHINA'S Tsinghua Unigroup Ltd plans to invest 300 billion yuan (S$67 billion) over the next five years in a bid to become the world's third-biggest chipmaker, the chairman of the state-backed technology conglomerate said on Monday.

Chairman Zhao Weiguo also told Reuters in an interview in Beijing that the company controlled by Tsinghua University, which counts President Xi Jinping among its alumni, was in talks with a US-based company involved in the chip industry.