This was reported by Bloomberg, as reported by Ukrinform.

SIA said that Huawei began manufacturing chips last year and will receive about US$30 billion in public funding from the government and the city of Shenzhen.

The group said in a presentation watched by Bloomberg that the Chinese company has acquired at least two existing plants from Fujian Jinhua and Qingdao Si`En, and PXW and Shenzhen Pensun Technology Co. He said he was building factories in partnership with

The association added that the state-owned company SwaySure is also part of the Huawei network, which mainly manufactures memory chips for portable devices and electric cars.

In 2019, the US Department of Commerce included Huawei on the list of companies that are prohibited from doing business with US companies under almost any circumstances. In 2022, the Biden administration also introduced export controls to limit the country’s military capabilities, preventing all Chinese companies from purchasing advanced semiconductors and equipment to manufacture them. But Chinese companies were allowed to purchase equipment for the production of microcircuits of the old generation.

SIA said Huawei has established and bought businesses under other companies’ names and concealed its involvement. And therefore, the material says that the Chinese telecommunications giant can bypass Western sanctions on the indirect purchase of prohibited American equipment for the manufacture of microcircuits and other accessories.

So, according to SIA estimates, by 2029-2030, China will have more than half the world’s capacity for old-generation chip production.

As Ukrinform reports, the US has banned the sale of most modern technologies to Huawei.