China plans new policies to develop domestic semiconductor industry -Bloomberg

Sept 3- China is planning a set of new government policies to develop its domestic semiconductor industry and counter restrictions imposed by the administration of U.S. President Donald Trump, Bloomberg News reported https://bloom.bg/31Rwwvm on Thursday. Measures to bolster research, education and financing for the industry have been added to a draft of…

Sept 3 (Reuters) – China is planning a set of new government

policies to develop its domestic semiconductor industry and

counter restrictions imposed by the administration of U.S.

President Donald Trump, Bloomberg News reported https://bloom.bg/31Rwwvm

on Thursday.

The Chinese government is preparing broad support forso-called third-generation semiconductors for the five yearsthrough 2025, the report added, citing people with knowledge ofthe matter.

Measures to bolster research, education and financing forthe industry have been added to a draft of China’s fourteenthfive-year plan, according to the report. It said that the planwill be presented to the country’s top leaders in October.

The Trump administration has restricted technology exportsto Chinese companies in particular, notably Huawei TechnologiesCo Ltd, citing national security risks.

The Bloomberg report comes amid increasing U.S.-Chinatensions over the handling of the coronavirus outbreak, theongoing trade war between the two countries, China’s impositionof a national security law on Hong Kong and the subsequent endto Hong Kong’s special status under U.S. law by Trump.(Reporting by Kanishka Singh in Bengaluru; Editing byChristopher Cushing)

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