Hua Hong Semiconductor, China’s second-largest chipmaker, receives approval for a ~$2.5B Shanghai IPO and plans to use the funds to build a plant in Wuxi, China (Reuters)

Harry McCracken / Fast Company:
In an interview, Zoom CEO Eric Yuan details the company’s decision to rebrand Zoom Chat as Team Chat, seeking to better compete with Slack, Teams, and others  —  It’s nice to be synonymous with a product category.  But Zoom CEO Eric Yuan says that expanding on its video-calling ubiquity is both an opportunity and a challenge.

Lauly Li / Financial Times:
Dutch chip manufacturer STMicroelectronics plans to invest €730M to build a chip materials plant in Italy to create a self-reliant supply chain amid shortages  —  Factory in Italy will help region become more self-reliant in key semiconductor market  —  STMicroelectronics …

Jennifer Conrad / Wired:
As China encourages digital yuan adoption among its citizens, experts say the digital currency opens up new forms of government surveillance and social control  —  Government officials are urging citizens to adopt the official digital currency in a bid to gain more control over the economy.

Angus Berwick / Reuters:
Sources: spreadsheets shown by SBF to FTX’s regulatory and legal teams show that at least $1B of client funds that moved from FTX to Alameda is unaccounted for  —  At least $1 billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.

Jiaxing Li / South China Morning Post:
A look at Shanghai’s status as China’s chip hub: SMIC and SMEE making 14nm and 90nm chips, ~$36.95B market size in 2021 or ~25% of China’s total, and more  —  Shanghai is styling itself as China’s semiconductor highland with the city now accounting for one quarter of the country’s semiconductor value output …

Coco Feng / South China Morning Post:
China’s central bank: e-CNY transactions totaled ~$14B from December 2019 to August 2022, up 14% from ~$12.2B in December 2021, signaling slowing growth  —  China’s central bank digital currency transactions totalled 100 billion yuan (US$14 billion) from the start of the e-CNY initiative …