China’s southwestern city of Chongqing plans to establish a 50 billion yuan ($7.3 billion) fund to help develop the semiconductor industry, the official Xinhua news agency said Saturday.
The Chinese city of Guangzhou aims to set up a CNY50bn ( $ 7.3bn ) fund to support a semiconductor industry in the region , according to news agency Xinhua . It said the fund could commit up to 5000 m to integrated circuit projects that have up to 5000 m of investment committed to them , as well as up to CNY20 m 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 .