China plans over $143 billion package to boost domestic chips, compete with US – Reuters

Citing three sources, Reuters reported on Tuesday, China plans to allocate more than CNY1 trillion ($143 billion) as a support package to boost its domestic semiconductor industry.

Additional takeaways

"China plans to roll out a support package as soon as the first quarter of 2023, and over five years mainly as subsidies and tax credits."

"The majority of financial assistance will be used to subsidize purchases of domestic semiconductor equipment by Chinese firms."

developing story ...