Hacker News Reader

No. They have increased subsidies dramatically after US sanctions and technology restrictions

Just a single package was over $143 billion. https://www.reuters.com/technology/china-plans-over-143-bln-...

That was because of debt restructuring due to Tsinghua Unigroup's collapse [0][1]

[0] - https://asia.nikkei.com/Business/China-tech/China-s-Tsinghua...

[1] - https://www.bloomberg.com/news/articles/2023-03-20/china-inv...

Did the proposed package actually happen? There seem to be no follow-up articles about it. If the CCP wanted to hide it, $140bn would still represent ~1% of their GDP, so there should be some pretty obvious markers indicating that it went through. In Sept 2023, the FT reported that the Big Fund (the main pot for semiconductor subsidies) was struggling to hit its modest targets of $40bn in total across a 5-year investment.

I don't see it as credible to say that China are currently investing $60bn/yr, or anything approaching that figure. They seem to currently be struggling to hit $10bn/yr.

Reply on news.ycombinator.com