China’s megacities are moving in tandem to draw capital to semiconductor research and development, as Beijing accelerates its chip self-sufficiency drive in the face of tightening US export controls. Major technology hubs including Shenzhen, Shanghai and Hangzhou – and even lesser-known players like Hubei province – have all launched major chip industry investment projects in the past few months, with regions competing to emerge as powerhouses in the strategically vital sector, according to...