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Shenzhen plans to boost local chip industry with preferential policies and cash...

 1 year ago
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Shenzhen plans to boost local chip industry with preferential policies and cash rewards

Shenzhen plans to boost local chip industry with preferential policies and cash rewards

4 hours ago

The Shenzhen government made a proposal on October 8, aiming to foster the semiconductor and integrated circuit (IC) industries and boosting their competitiveness.

The proposal, put forward by the Shenzhen Development and Reform Commission, promises generous subsidies and cash incentives for qualified semiconductor companies and talents.

According to the draft plan, the city will focus on supporting the design of high-end, general-purpose and special-purpose chips, silicon-based IC manufacturing, chip packaging, and research and development of core semiconductor-related materials.

Qualified businesses can get up to 20% annual funding, or 10 million yuan ($1.4 million), to cover the cost of IP cores fee for the R&D of high-end chips.

In addition, the local government wants to boost the adoption of homegrown electronic design automation (EDA) software. Those businesses and research institutes who purchase domestic EDA tools will be eligible for a subsidy of up to 10 million yuan per year, or less than 70% of the fees.

Local companies engaged in the open-standard RISC-V chip design architecture can also receive subsidies of up to 10 million yuan, or 20% of their R&D investment.

The city promises to improve the incentive mechanism and will give up to 5 million yuan in rewards to eligible talents in the draft plan. A series of preferential policies for luring more Chinese talents residing abroad to return to China are also included.

The plan also indicated that the city will consider establishing an investment fund for the IC industry, and will assist enterprises in obtaining financing from capital market and provide subsidies.

The tussle between Beijing and Washington is driving China to seek higher levels of self-reliance in tech sector, especially the semiconductor industry. China has been aggressively introducing policies and providing funds to cultivate related industries, hoping to make breakthroughs in key areas.

Chinese chip stocks fell sharply on Monday after the US announced new export controls aimed at further limiting Chinese companies' access to key technologies.

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