SHANGHAI, Nov 7 (Reuters) - Chinese chip manufacturer Hua Hong Semiconductor Ltd (1347.HK) has received regulatory approval for an 18 billion yuan ($2.5 billion) IPO in Shanghai, according to a filing published late on Friday on the Hong Kong stock exchange. The planned initial public offering (IPO) comes as China’s chip companies gear up for steeper competition with the United States due to geopolitical tensions. According to its prospectus, Hua Hong intends to use the money to invest in a new fabrication plant - or fab - in the eastern city of Wuxi, with construction set to begin in 2023...