This study aims to discuss the development of the semiconductor industry in China and analyzes it through current studies about the catch up of latecomers in newly industrialized countries (NICs). The case study approach was used to explore and discuss the development track of the Chinese semiconductor industry and the catch up experience of Huang Hong NEC in China. The experience of NICs can explain the catch up of semiconductor latecomers in China. However, the role of government has changed along with the whole development of the China semiconductor industry; external pressure may influence the pace of development and the span of control of the China Government for future catch ups. The study focuses on one single case, which may not reflect the individual differences appeared in different firms in China. This study contributes to the knowledge about the catch up of latecomer firms in an emerging market and verifies classical arguments about the experience of NICs through the experience of China's semiconductor industry.