The Chinese government doled out more than RMB 12.1 billion ($1.75 billion) in subsidies to 190 domestically listed semiconductor companies in 2022, industry data shows, as Beijing seeks to counter escalating US sanctions targeting advanced chip-making, reports the South China Morning Post.
The 10 largest recipients received 45% of the payouts, amounting to RMB 5.46 billion, according to a report on Sunday from Chinese media outlet ijiwei, which compiled the data from Wind, a financial data provider. Corporate filings from the top 10 firms confirms the subsidy amounts.
The report only covered companies listed in mainland China, meaning either in Shanghai or Shenzhen. Many other unlisted firms have also received government support, including through loans and direct investment. China’s largest foundry operator, Semiconductor Manufacturing International Corp (SMIC), was also its largest subsidy recipient for the year at RMB 1.95 billion.
You must log in to post a comment.