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The proposed measures involve providing subsidies and other financial benefits to companies operating in this sector, which is seen as critical to China's efforts in competing with the United States in technology.
The estimated total cost of this initiative, which aims to decrease China's reliance on chips made by foreign firms like Nvidia Corp. from the U.S., could range between 200 to 500 billion yuan, equivalent to about $20 to $70 billion.
Beijing is worried about the reliability of access to American technology, especially given the unpredictable nature of the White House's decisions on export controls. Details about the program, including the extent of the support and the list of companies that will be eligible, are still being worked out, as reported by the sources.
source: bloomberg.com
The estimated total cost of this initiative, which aims to decrease China's reliance on chips made by foreign firms like Nvidia Corp. from the U.S., could range between 200 to 500 billion yuan, equivalent to about $20 to $70 billion.
Beijing is worried about the reliability of access to American technology, especially given the unpredictable nature of the White House's decisions on export controls. Details about the program, including the extent of the support and the list of companies that will be eligible, are still being worked out, as reported by the sources.
source: bloomberg.com
