China trails US in government support for domestic chip industry, according to new report

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The Chinese government is not doing enough to prop up its domestic chip industry compared with the United States, according to a new report by China’s top investment bank. “If we compare each government’s support for the semiconductor industry, the support provided by the US is still more than what China has provided,” said Peng Wensheng, chief economist and head of the research department at China International Capital Corp (CICC), during an online media briefing on Tuesday. Why semiconductors are important in the US-China tech war While Beijing has already showered the country’s semiconductor projects with generous incentives such as...