Market Views: How should Asian investors rethink China exposure in multi-asset portfolios?

China has long relied on foreign‑made semiconductors for about 85% of its needs, but policymakers are now determined to expand its domestic chipmaking capabilities. Backed by industrial policy, national funding and municipal support, the ingredients for a homegrown chip sector at scale are coming together, while powerful corporates such as Huawei and Tencent drive innovation and help overcome technical hurdles.