A bureau under China s state-owned assets supervisor on Sunday released a recommendation list of 178 technology innovations of centrally administrated state-owned enterprises (SOEs), highlighting breakthroughs in such sectors as semiconductors, server operating systems, core electronic components, key materials and advanced manufacturing.
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China’s Subsidies for Listed Companies Total $33 Billion, Prioritizing Defense and Semiconductor Sectors
China spent a whopping $33 billion on industry subsidies to listed companies in 2020. Among them, subsidies to semiconductor and defense enterprises increased significantly.
According to Japan’s Nikkei Asia, China’s subsidy spending was at a record high last year, and showed a 14 percent increase from 2019.
In the semiconductor industry, the regime’s total subsidies to 113 companies reached $1.6 billion, 12 times that of 10 years ago. China’s largest chip manufacturer, SMIC, not only received nearly $300 million in subsidies, its subsidiaries also received $2.25 billion from the country’s “Big Fund” program.