Gotion will be eligible to receive US tax benefits totalling $213 million over 30 years and also get $125 million in capital funding from Illinois

The announcements come on the heels of a series of nationwide support measures announced by Beijing for the property sector

Senior executives from chipmakers including Intel, GlobalFoundries, Amkor and Marvell are expected to attend a business meeting on Monday in Hanoi

China's consumer prices returned to positive territory while factory-gate price declines slowed, pointing to signs of stabilisation in the economy

The sweeping deal aims to link South Asia and the Middle East to help the flow of energy and trade from the Gulf to Europe

While India and the US are not formal treaty-bound allies, Washington wants New Delhi to be a strategic counterweight to China

The chief of one of the world’s biggest chip equipment-makers, ASML, said isolating China completely will ‘force’ the country to ramp up innovation

"The significance is that it shows that China has been able to stay 2-2.5 nodes behind the world's best (chip) companies," Dan Hutcheson, an analyst with TechInsights said

State media said the investment was a clear sign of Beijing's push to end the country's reliance on foreign semiconductor firms

Among major backers of the chip designer is smartphone giant Xiaomi, which won approval last month from China's state planner to manufacture electric vehicles

The development follows sanctions-hit Huawei's success in building an advanced 7-nanometer processor, in collaboration with state-backed SMIC

In interviews broadcast on Sunday, the US commerce secretary said China's economy did better when it was more transparent and market-oriented