PRC government to expand support for semiconductor industry - media

The PRC government is developing a project of wide support for electronic industry enterprises. It is reported by Bloomberg, citing sources in the industry. According to the publication, new support measures will be included in the draft 14th five-year plan, which will be presented to the top leadership of China in October. The proposed measures to support the industry until 2025 include a set of measures to stimulate the research, development and production of semiconductor devices. In 2018 and 2019, Chinese companies purchased more than $300 billion worth of integrated circuits from foreign manufacturers. Recently, however, the US government has been increasing pressure on Chinese companies by blocking them from accessing the semiconductor market. For example, the sanctions imposed on Huawei provide for a ban on the supply of chips manufactured using American technologies to a Chinese company. The Chinese government understands that semiconductors are at the heart of all advanced technologies, and Chinese companies can no longer rely on American supplies. China may respond to a possible tightening of the restriction on access to chips by the United States with support for the development of its own industry, said Deng Wang, an analyst at Gavekal Dragonomics research company. As previously reported by the news agency, in the second quarter of 2020, the revenue of China's largest chip manufacturer Semiconductor Manufacturing International Corporation (SMIC) grew by 18.7% year-on-year.
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