Stock image of chips being made by a machine.

China Poured Nearly $2 Billion Into Its Own Semiconductor Industry Last Year

Posted on

The Chinese government is looking to take the teeth out of the United States’ technological sanctions by using one of the oldest tricks in the book: throwing money at the problem. According to a report from the South China Morning Post, as covered by DigiTimes, the Chinese government poured CNY12.1 billion (US$1.75 billion) in subsidies to around 190 listed semiconductor companies in its territory.

China has been pouring billions of dollars into sectors critical to its technological independence from the locked-in western world as it attempts to catch up to — and then surpass — its opposition in the geopolitical stage.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *