China plans over $143 bn push to boost domestic chips, compete with US

China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances.
 

Beijing plans to roll out one of its biggest fiscal incentive packages over five years, mainly as subsidies and tax credits to bolster semiconductor production and research activities at home, said the sources.
 

The plan, which according to the sources could be implemented as soon as the first quarter of next year, has not been reported before.
 

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