Citing three sources, Reuters reported on Tuesday that China plans to distribute more than 1 trillion yuan ($143 billion) as a support package to boost its domestic semiconductor industry.
Additional comments
“China plans to roll out a support package as soon as the first quarter of 2023, and for five years primarily as subsidies and tax credits“.
“Most of the financial aid will be used to subsidize purchases of domestic semiconductor equipment by Chinese companies“.
The Chinese Ministry of Commerce filed a dispute with the World Trade Organization (WTO) on Monday after the US Department of Commerce introduced sanctions in early October to make it more difficult for China to purchase or develop advanced semiconductors. .
Source: Fx Street
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