How China Turned 10 Years of Chip Losses Into a $488 Billion IPO Giant

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Chinese memory chipmaker CXMT has completed what is being described as a historic IPO, making it the most valuable company listed on mainland China. The company endured over a decade of financial losses before reaching this milestone, reflecting Beijing's long-term strategic investment in semiconductor self-sufficiency. CXMT's rise is seen as a direct result of sustained state support and industrial policy focused on building domestic chip capabilities. Analysts and commentators are now pointing to CXMT's journey as a model that India could study as it seeks to develop its own semiconductor industry.

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