China Prepares as Much as $70 Billion in Chip Sector Incentives
A technician at a semiconductor manufacturing plant in Suqian, Jiangsu province.
Source: STR/AFP/Getty Images
China is considering a package of incentives worth as much as $70 billion to bankroll and support its chipmaking industry, pouring more state money into a sector it deems pivotal to its technological conflict with the US.
Officials are deliberating proposals to earmark a package of subsidies and other financing support in the range of 200 billion yuan ($28 billion) to 500 billion yuan, people familiar with the matter said, asking to remain anonymous to discuss private talks. The final details of those incentives, exact amounts and target companies are still getting worked out, the people added.