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Chinese authorities will tighten requirements for companies applying for state support
Strong government subsidies boosted investment in China’s semiconductor industry more than fourfold to $ 21.5 billion last year. Approximately 70% was directed to the development of chips, 20% was spent on the creation of equipment and materials. Authorities will tighten eligibility criteria for government support to avoid abuse.
Image Source: Nikkei Asian Review
As the Nikkei Asian Review notes, the inflow of public investment, combined with the country’s leadership on the development of the industry, led to the fact that money began to be invested thoughtlessly, without providing adequate returns. An example is the story of the infamous Wuhan company HSMC, which was founded in late 20021 by founders far from the semiconductor industry. The purchase of advanced imported equipment and the involvement of the former vice president of TSMC in the leadership did not correct the situation — by the end of February, the Chinese company was forced to lay off its employees, and the construction site went to the local authorities a few months earlier as collateral.
In 2021, the PRC authorities announced the expansion of support for the national semiconductor industry. Tax incentives were to be provided to manufacturers for a period of ten years. Development and purchase of lithographic equipment were subsidized. The new plan of the Chinese government implies raising the bar for job seekers, as a result of which only determined companies in the semiconductor sector will receive government support.
In the field of component development, the use of software development tools with a high degree of automation becomes a prerequisite. At least half of the employees must have university degrees, half of the entire staff of such companies should be engaged in development and research. At least 6% of the revenue should be directed to development, half of the revenue should be generated by independent development, the company must register at least eight patents.
In the field of technological equipment, at least 40% of the staff must have a higher education, the share of developers must reach 20% of the state. Similar requirements will be imposed on companies involved in the development of materials science, packaging and testing of semiconductor components. Officially, these requirements should come into force this year.