ASML faces competition from China's homegrown chip tool technology

On the one hand, United States controls on exports of high-tech goods to China are threatening to reduce access to a major market; and on the other, Beijing's push for technological independence in areas such as chip production raises the possibility of a China-based competitor.

Reuters reported on Tuesday that a little-known Chinese state-owned firm called Shanghai Aishengna Electronic Technology Group was leading an effort to mass produce locally made immersion deep ultraviolet (DUV) lithography tools, key to modern chipmaking.

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