Nikkei Asian Review reported (August 12) that Quanxin Integrated Circuit Manufacturing (Jinan), better known as QXIC, and Wuhan Hongxin Semiconductor Manufacturing Co., or HSMC, two Chinese government-backed chip projects, have together hired more than 100 veteran engineers and managers from Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s leading chipmaker, since last year. It cited sources saying that the hirings are aimed at helping Beijing achieve its goal of fostering a domestic chip industry and cut the Chinese mainland’s reliance on foreign suppliers. In addition to employing more than 50 former TSMC employees each, both are also led by ex-TSMC executives with established reputations in the chip world. The two projects are aiming to develop advanced 14-nanometer and 12-nanometer chip process technologies.

(Comment: An informed individual says that Wuhan Hongxin Semiconductor Manufacturing Co. offered some amazing packages, "as high as two to 2.5 times TSMC's total annual salary and bonuses for those people". Taiwan is estimated to have so far lost more than 3,000 chip engineers to China.)