UBS: The Chinese A-Share Semiconductor Sector: Improved R&D and Fixed Asset Efficiency Support CFROI Enhancement
Main Points The investment growth in China’s A-share semiconductor industry is strong, with R&D investment growth outpacing fixed assets. Since the establishment of the National Integrated Circuit Industry Investment Fund in 2014 and the inclusion of semiconductors as a strategic emerging industry in the “14th Five-Year Plan,” investment in this sector has significantly increased. According … Read more