Where does China stand in the chip war amid sanctions?

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China has spent years and trillions of dollars to achieve chip independence. Meanwhile, the United States has launched sanctions to limit China's access to high-end semiconductors and chipmaking tools, including ASML’s cutting-edge lithography machines. On September 9, China's Ministry of Industry and Information Technology (MIIT) announced breakthroughs in making its own DUV lithography machines. The Chinese celebrated the news as a major milestone in countering U.S. sanctions. Some warned that China is catching up in the chip war faster than we think. Industry experts, however, believe the reality may be far from meeting Beijing's ambition. So, how should we interpret China's announcement, and where does China stand in the chip war?

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