Xi Jinping picks top lieutenant to lead China’s chip battle against US

The involvement of one of Xi's most-trusted lieutenants in China's chip efforts highlights the importance accorded by Beijing to the initiative. - AFP

BEIJING (Bloomberg): Chinese President Xi Jinping is renewing his years-long push to achieve technology self-sufficiency by tapping a top deputy to shepherd a key initiative aimed at helping domestic chipmakers overcome US sanctions.

Liu He, Xi’s economic czar whose sprawling portfolio spans trade to finance and technology, has been tapped to spearhead the development of so-called third-generation chip development and capabilities and is leading the formulation of a series of financial and policy supports for the technology, according to people with knowledge of the matter.