China is preparing a US$143bn support package for its semiconductor industry (re US bans)<p>Reuters reporting citing 3 unnamed sources:</p><ul><li>China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry</li><li>a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances</li><li>plans to roll out over five years, mainly as subsidies and tax credits to bolster semiconductor production and research activities at home, said the sources.</li></ul><p><a href="https://www.reuters.com/technology/china-plans-over-143-bln-push-boost-domestic-chips-compete-with-us-sources-2022-12-13/" target="_blank" rel="nofollow">Link here</a> for more detail. </p>
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: China is preparing a US$143bn support package for its semiconductor industry (re US bans) (https://www.forexlive.com/news/china-is-preparing-a-us143bn-support-package-for-its-semiconductor-industry-re-us-bans-20221213/https://www.forexlive.com/news/china-is-preparing-a-us143bn-support-package-for-its-semiconductor-industry-re-us-bans-20221213/)
forexlive.com