Industry Report: China Gave US$1.75 Billion in Subsidies to Semiconductor Sector

According to a Chinese industry report, the Chinese government provided a total of 12.1 billion yuan (US$1.75 billion) to 190 domestically listed firms in the semiconductor supply chain, with over 40% going to ten companies. In the meantime, these companies are also spending a lot on R&D as they try to catch up with foreign competitors after being cut off from the most advanced semiconductors and equipment.