Britain stops funding an electronic company after selling it to China

Britain-ALSHARQIYA July 21: Britain cut government funding for an electronic chip factory, after it was sold to China, according to the British newspaper, "The Telegraph", on Tuesday.

The newspaper said that the government-owned research and investment institution in the United Kingdom (Okri), stopped its funding to the "Newport Weaver Fab" company, under government instructions, after it was sold to the Chinese-owned company Nexperia.

Newport Wafer Fab, based in Newport, Wales, employs about 450 people, making the chips that electronic circuits are printed on. While Nexperia is headquartered in the Netherlands, it is owned by China-based Wing Tech, which is partly owned by state-backed investors, according to CNBC.

Among the Newport Wafer Fab's projects is developing chip technology with Cardiff University for a radar system that could be used in combat aircraft.

Chips allow electronic devices to capture, process and store data, and they are essential components of entire parts of the global industry, and they make up many of the gadgets we use on a daily basis.

This comes as the United States focuses on confronting China and pulling the rug out from it in this important technological industry.

And last month, the US Senate passed a bill with a plan that would allocate more than $170 billion for research and development, and is specifically aimed at encouraging companies to produce on American soil semiconductors, whose industry is currently concentrated in Asia.

The bill provides for $52 billion over five years to encourage companies to manufacture semiconductors in the United States and to promote research and development in this area.

The plan aims to address the global shortage of these basic components, and also seeks, on a larger scale, to support American industry in the trade war with China.


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