China launches subsidy investigation over U.S. legacy chip support

China’s Ministry of Commerce will review petitions from domestic chip manufacturers for relief from subsidies the Biden administration has provided to the U.S. semiconductor industry, which the petitioners say give U.S. companies an unfair advantage over Chinese competitors, a MOFCOM spokesperson said on Thursday. “The domestic chip industry has reported that the Biden administration has provided a large amount of subsidies to the chip industry for some time, which has given U.S. companies an unfair competitive advantage and exported related...