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[Insurance]

China’s ambitions to become self-sufficient in the production of chipsets have been dealt a serious blow with the closure of a state-backed semiconductor plant. Wuhan Hongxin Semiconductor Manufacturing Co (HSMC) is letting go of all of its staff, according to local press reports, a clear sign that the troubled company is shutting up shop. Staff at the plant received a WeChat message asking them to resign, making it clear that there are no plans to restart production, the South China Morning Post reported, citing information shared by Caixin Media . The move affects 240 staff. An $18.5 billion project, HSMC has been beset by problems pretty much since it opened for business in late 2017, and funding issues drove it into the ground last year. It was taken over by the local government at the back end of last year, but it now appears it is closing for good. The news is significant because it comes as China battles with a shortage of chipsets due to US supply chain restrictions. With the new administration in the US showing little sign of thawing relations with Beijing thus far, the country needs to take matters – chipset production, that is – into its own hands. However, the closure of HSMC may not be as great a blow as it might first appear, despite the fact that it is one of many failures in this market. The Global Times quotes industry analyst Ma Jihua as saying that the project’s collapse is not indicative of the state of China’s semiconductor industry as a whole. Furthermore, since HSMC has been in trouble for a couple of years, its failure is in line with industry watchers’ expectations. “There may be more failures in the sector in the future, as there [were] too many start-ups established two or three years ago,” Ma told the paper. People should take a longer-term view of the Chinese semiconductor market, he said. Growing investments in that market will be unaffected by the collapse of HSMC or indeed any other similar start-ups, he predicted. Indeed, the South China Morning Post notes that 10 or more high-profile, government-sponsored semiconductor projects are reported to have gone bust over the past two years. In October the state’s National Development and Reform Commission (NDRC) said the government would increase supervision of new entrants in the semiconductor space to protect against the potential for wasted resources. Many of China’s semiconductor projects have been poorly planned and financed, the paper pointed out. HSMC was a notable example of this, and had the added issue of being run by people with no experience of the market. Few in the semiconductor space had even heard of HSMC founders Li Xueyan and Cao Shan, it said, which raised concerns from the outset of the project. China needs to make its own chipsets in large enough volumes to meet its technology needs.

https://telecoms.com/508812/chips-are-down-as-china-semiconductor-plant-goes-belly-up/

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[Education]

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2020 in New Jersey, as captured by NJ Advance Media photojournalists “I did not mean that.” “But I did mean that Monday through Friday, schools are open for business, and unless you’ve got some sort of health challenge of one sort or the other, we fully expect we’re in business for school,” he added. Murphy said he didn’t know what the setup would look like, noting it it will be up to districts to determine who would be allowed to participate in virtual website here learning and how. CORONAVIRUS RESOURCES: Live map tracker | Newsletter | Homepage The governor made his initial comments last Wednesday during a COVID-19 briefing . He was asked if districts would be allowed to preserve the option of virtual learning even if districts are required to offer full in-person instruction. “As we’re sitting here now, no,” Murphy said. “I want to unequivocal about this. We are expecting Monday through Friday, in-person, every school, every district. Obviously, if the world goes sideways, we have to revisit that. But as of this sitting, the answer is no.” Murphy also announced last week that most schools in New Jersey can move classroom desks three feet apart , instead of six feet, under new social distancing guidance issued by the federal Centers for Disease Control and Prevention that said it was safe for students to be closer together at school if they continue to wear masks and follow other social distancing guidelines to prevent the spread of the coronavirus. As of last week, 143 districts in New Jersey with about 97,000 students are open for all in-person instruction. In addition, 534 districts with more than 833,000 students are open for hybrid instruction. Another 44 districts with 121,600 students are in a mix of in-person, hybrid, or all-remote learning, while 90 districts with 302,000 students remain all remote. New Jersey has reported 205 in-school coronavirus outbreaks, which have resulted in 947 cases among students, teachers, and school staff this academic year, according to the state’s dashboard . The state defines school outbreaks as cases where contact tracers determined two or more students or school staff caught or transmitted COVID-19 in the classroom or during academic activities at school. Those numbers do not include students or staff believed to have been infected outside school or cases that can’t be confirmed as in-school outbreaks. New Jersey is once again seeing an uptick in daily COVID-19 cases and hospitalizations as officials warn about variants spreading. The state on Tuesday reported another 4,378 confirmed cases and 61 additional confirmed deaths, while there were 2,329 coronavirus patients across the state’s hospitals as of Monday night — the most since Feb.

https://www.nj.com/coronavirus/2021/03/nj-students-teachers-with-health-issues-will-have-virtual-school-option-this-fall-murphy-clarifies.html