A high-level Chinese official acknowledged at a forum on Nov. 28 that many of China’s investment projects in the semiconductor industry were short-sighted and ultimately failed. Wang Zhijun, one of the deputy ministers at China’s Ministry of Industry and Information Technology, made the comments while speaking at the China Development Forum hosted by the prestigious Tsinghua University in Beijing, according to Chinese state-run media. What’s happening now in the semiconductor industry has happened to other Chinese sectors, such as steel, cement, and photovoltaics, leading to production overcapacity, said Wang. He said the semiconductor industry needed greater supervision and that companies...