China prepares $70 bn in chip sector incentives

CHINA IS CONSIDERING a package of incentives worth $70 billion to bankroll and support its chipmaking industry, pouring more state money into a sector it deems pivotal to its technological conflict with the US. Officials are deliberating proposals to earmark a package of subsidies and other financing support in the range of 200 billion yuan ($28 billion) to 500 billion yuan, people familiar with the matter said, asking to remain anonymous to discuss private talks.

- BLOOMBERG

Final details of those incentives, exact amounts, target firms are getting worked out, people added.