Tech war: southwestern tech hub Chengdu offers US$72 million in subsidies to local semiconductor projects amid China’s chip self-sufficiency drive | South China Morning Post
Chengdu, China, is offering US$72 million in subsidies to boost its semiconductor industry as part of the country's push for chip self-sufficiency.
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Local authorities in Chengdu, capital of southwestern Sichuan province, unveiled the subsidies on Thursday as part of 12 new policies to support the local semiconductor sector, according to a report by the official Chengdu Daily.
The subsidies will cover “major projects in integrated circuit manufacturing, packaging and testing, equipment and materials”, according to the report, citing the announcement made by the city’s Economic and Information Technology Bureau.
Under the new policies, certain “top talent” in the local semiconductor sector can receive an annual award of 500,000 yuan plus a one-off award of 3 million yuan, while each of the teams they are a part of can get 15 million yuan in financial support.
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