Date
19 October 2017

Beijing on brink of new backing for chip industry, paper says

Much-anticipated central government support for the integrated circuit industry will be unveiled soon, the China Securities Journal reported Thursday, citing sources close to the authorities. The official breaks for the industry could be the strongest in almost a decade and present unprecedented growth opportunities for companies in the sector, the report said. Among other measures, Beijing will encourage the industry to work with all tiers of government and private capital to set up a fund in major provinces to give financial backing for domestic chip production. China made around 200 billion yuan (US$32.99 billion) from integrated circuit production in 2012, the report said.

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EL/AC/SK

 

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