The Chinese city of Chongqing aims to set up a CNY50bn ($7.3bn) fund to develop a semiconductor industry in the region, according to news agency CNY20m per year. It said the fund could contribute up to CNY20m to integrated circuit projects that have up to CNY500m of investment committed to them, as well as up to Xinhua to support R&D for a national integrated circuit innovation centre. The Chinese government aims to reduce its reliance on imported semiconductors and has prioritised the industry in its Made in China 2025 plan.
The Chinese city of Chongqing aims to set up a CNY50bn ($7.3bn) fund to develop a semiconductor industry in the region, according to news agency Xinhua. It said the fund could contribute up to CNY20m to integrated circuit projects that have up to CNY500m of investment committed to them, as well as up to CNY20m per year to support R&D for a national integrated circuit innovation centre. The Chinese government aims to reduce its reliance on imported semiconductors and has prioritised the industry in its Made in China 2025 plan.