China $70B Chip Incentive Plan

Benzinga

China is weighing up to ¥500B ($70B) in state-backed incentives to boost its domestic semiconductor sector, aiming to cut reliance on foreign chipmakers like Nvidia and strengthen national chip and AI capabilities under Xi Jinping’s whole-nation strategy.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03China is considering a package of state-backed incentives worth up to 500 billion yuan,

00:08or about $70 billion, to support its domestic semiconductor industry,

00:12according to people familiar with the matter, according to Bloomberg.

00:15The proposal reflects Beijing's effort to reduce reliance on foreign chipmakers,

00:20including NVIDIA, and continue backing firms such as Huawei Technologies and Canbericon Technologies.

00:25The plan would be the largest semiconductor incentives program China has proposed,

00:30as President Xi Jinping advances a whole-nation strategy to strengthen chip and AI capabilities amid ongoing U.S. export controls.

00:38For all things money, visit Benzinga.com.

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