China Hinders Chipmaker Arm's Bid To Dump Joint Venture

China is holding up Softbank Group Corp-owned Arm's plan to offload its troubled joint venture in the country, Financial Times reported.

Photo Insert: Chinese officials have declined to process the paperwork confirming Arm China's transfer to a new Vision Fund entity since the documents were submitted to business regulators around May last year.

Chinese officials have declined to process the paperwork confirming Arm China's transfer to a new Vision Fund entity since the documents were submitted to business regulators around May last year, Financial Times said, citing three people close to the matter.

However, regulators could possibly change their minds and process the paperwork, which takes around five to 10 days to complete, the report said.

The report comes after the United States passed a sweeping set of regulations last year aimed at kneecapping China's semiconductor industry.

China does not want to lose Arm at this juncture, FT reported, quoting an official involved in overseeing Arm China. "The chip war between the US and China continues to escalate and Arm is a must-have ally for China's chip industry," the official told the Financial Times.

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