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Hua Hong Group has achieved a significant milestone by developing 7-nm chip manufacturing technologies, positioning itself as China's second company capable of producing advanced AI chips, alongside Semiconductor Manufacturing International Corporation (SMIC). Huali Microelectronics, a subsidiary, is set to begin production at its Shanghai plant, aiming for a capacity of a few thousand wafers monthly by year-end.

The development has garnered support from Huawei Technologies, and follows a push from Beijing to improve tech self-sufficiency. Huali's R&D began last year, with funding plans announced to raise 7.56 billion yuan. This advancement comes after the U.S. eased some tech export controls.