Grace Semiconductor, cofounded by the son of former Chinese leader Jiang Zemin in 2000, began production of logic chips in 2003 after raising over $1.6 billion. Combined sales by Chinese producers soared to $771 million in 2003, from just $354 million in

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Grace Semiconductor, cofounded by the son of former Chinese leader Jiang Zemin in 2000, began production of logic chips in 2003 after raising over $1.6 billion. Combined sales by Chinese producers soared to $771 million in 2003, from just $354 million in 2002.

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